Altech Chemicals Ltd (ASX:ATC) is seeking to change its name to Altech Batteries Limited to reflect its pivot into battery storage solutions.
In the company’s recent annual report, managing director Iggy Tan said Altech was “undergoing a transition to be a battery energy company to meet a battery storage future”.
As such, the board believes a rebranding showcases its core mission. It also comes at a crucial time, when concepts like green energy and electrification are emerging as key global themes.
The name change will be put to a shareholder vote at a general meeting early in the new year, but Altech plans to keep its existing ticker.
Project portfolio
In a market announcement today, Altech said the proposed name change was consistent with the business and market segments linked to all three of its current projects.
They are:
- the CERENERGY® battery project: a 100 megawatt-hours per annum operation designed to produce the grid storage batteries of the future;
- the Silumina Anodes TM project: a 10,000 tonnes per annum hub for making alumina-coated silicon graphite anode material for batteries; and
- the high purity alumina project: a 4,500 tonnes per annum project to support today’s lithium-ion batteries and the future’s solid-state batteries.