Image Sourced ShutterStock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • A new report shows demand for HPA has the potential to grow 30 per cent annually up to 2028
  • As a result, Altech’s net present value is expected to increase 32 per cent to US$669 million
  • Altech is increasing its European presence following an $18M investment from German based investors and acquiring interest in Frankfurt listed company
  • Altech’s share price is up five per cent today, currently sitting at $0.10

High Purity Alumina (HPA) producers Altech has informed the market of a potential 30 per cent annual increase in demand for the valuable product by 2028.

A market outlook report conducted by commodity consulters CRU Group, forecast HPA’s continued rise in popularity and hence a rise in the product’s value.

HPA is a high value commodity used in the making of electric vehicle (EV) batteries. Yearly sale projections for EV’s continue to soar, leaving HPA highly sought after.

A demand for high-grade HPA is also growing in the LED lights market in order to make a quality product, another avenue HPA producers can capitalise on.

As a result, Altech’s net present value is expected to increase 32 per cent to US$669 million.

Investors are responding well to the news with the company’s share price up five per cent, currently sitting at $0.10 per share.

Recently a series of German Investors made an $18 million commitment to the company through a share placement, solidifying Altech’s presence as a key HPA producer.

The company said it will use the funds in the continued development of its HPA plant in Johor, Malaysia.

Altech detailed the first stages of construction are on track, with the workshop steel frame and retaining wall nearing completion.

Increasing its European presence, Altech confirmed an agreement to acquire a 29 per cent interest of a public company listed on the Frankfurt stock exchange.

The German branch will assume the name Altech Advanced Materials AG.

According to the company, branching further into the European market will provide exposure to new investors across the continent, who are looking to invest in the battery material sector.

More From The Market Herald

" Lithium Australia’s (ASX:LIT) Envirostream receives first cash rebate for B-cycle scheme

Lithium Australia's (ASX:LIT) subsidiary, Envirostream Australia has received its first cash rebate for the B-cycle scheme.
Wagners (ASX:WGN) - CEO and Managing Director, Cameron Coleman

" Wagners (ASX:WGN) promotes CEO to Managing Director

Building materials company Wagners (ASX:WGN) appoints its current CEO to the board as Managing Director, effective…
The Market Herald Video

" Australasian Metals (ASX:A8G) identifies tantalum mineralisation at Barrow Creek

Australasian Metals (A8G) identifies high-grade tantalum and tin mineralisation at the Barrow Creek Lithium Project in…
The Market Herald Video

" Centrex (ASX:CXM) subsidiary signs agreement for beneficiated phosphate trial shipment

Centrex's (ASX:CXM) subsidiary Agriflex has executed an agreement for a trial shipment of beneficiated phosphate with…