Altech Batteries advances CERENERGY battery project funding [Video]

Altech Batteries Ltd (ASX:ATC, OTC:ALTHF) continues to progress its funding strategy of the CERENERGY® sodium-chloride solid-state battery project in Saxony, Germany, advancing both debt and equity discussions, plus offtake agreements. 

The project’s financing strategy is structured across three key areas: debt, equity and grants — covering capital expenditures along with financing costs, working capital, debt service coverage, and an additional contingency for potential business interruptions.

“Altech is advancing both debt and equity discussions, along with offtake agreements, to fully fund the CERENERGY® project. We are seeing strong interest, especially from European banks and potential equity partners,” Altech CEO and managing director Iggy Tan said. 

In June, Altech appointed a global big four professional services firm to assist in securing finance for the construction of Altech’s 120MWh CERENERGY® battery manufacturing plant. 

Tan added: “The funding stage of any project is the most complex and challenging process of any project. Securing a big four funding adviser with …