Altech Batteries (ASX: ATC) has selected a European bank with experience in technology-driven projects as its preferred funding provider for the CERENERGY sodium-chloride solid-state battery project in Germany. Altech is an Australian company focused on developing and commercialising battery technologies. Its flagship CERENERGY project aims to produce cost-effective and sustainable battery solutions for grid storage.
Representatives from the bank have visited the testing facilities of Altech’s joint venture partner, Fraunhofer IKTS, in Dresden, and the battery prototype production house in Hermsdorf. The visits were aimed to assess whether the project and its technology meet the bank’s financing and risk criteria. Altech is also in discussions regarding a federal government guarantee to underwrite the project and reduce debt funding risk.
To secure the equity component of the project’s funding, Altech has engaged several advisors and plans to divest a minority interest in the project to select investors. The company aims to attract large utilities, data centre operators, investment funds, and corporations committed to green energy. These investors would ideally contribute capital and align with CERENERGY’s long-term sustainability goals. Several non-disclosure agreements have been signed with prospective investors to allow more in-depth discussions.
Altech has secured several offtake agreements, including deals with Zweckverband Industriepark Schwarze Pumpe and Referenzkraftwerk Lausitz GmbH for annual energy storage capacity. The company has also signed an agreement with Axsol GmbH for exclusive distribution of CERENERGY batteries to the Western defence industry. Recent single-cell stress testing by Fraunhofer confirmed the safety and operational robustness of CERENERGY battery technology under extreme conditions.
