Altech Chemicals Ltd (ASX:ATC) has made broad progress on the CERENERGY® battery joint venture (JV) with Fraunhofer IKTS, holding two expert workshops, selecting major equipment suppliers and engaging in early offtake discussions.
Late last year Altech announced that it had designed and launched the CERENERGY® SAS 60 kilowatt-hour battery pack (ABS60) for the renewable energy and grid storage market.
Since then, two critical expert workshops were held on October 13 and 14 and December 8, 2022, at Altech’s site in Schwarze Pumpe, Germany.
These workshops were headed and led by ATC managing director Iggy Tan with the objective to bring forward detailed design requirements as well as efficient industrial production plant design.
The team was able to finalise the design basis for the 100MWh (megawatt-hours) battery with the production of the 60-kilowatt hour (KWh) ABS60 battery packs amounting to 1,666 packs per annum.
Offtake and financing progressing
Tan said that the company had moved very quickly on the opportunity presented by its new technology, closing the JV agreement with Fraunhofer and incorporating two companies in just two months.
“Since that time, we have raced to get the project moving with several commencement workshops. We have also appointed key engineering companies like Leadec and Arikon,” he continued.
“We have also launched the design for the 60 KWh battery pack for the renewable energy storage sector.
“To date, all plant and equipment suppliers have been selected. On the marketing front, the team has been having discussions with potential interested offtake parties.
“I am very pleased with the team we have assembled and the outstanding progress made thus far.”