Altech Advanced Materials AG, the German-listed subsidiary of Perth-based Altech Batteries, has received environmental and construction approval for its 120 MWh Cerenergy GridPack production facility in Saxony, Germany.
The company initiated the application process in September 2023. Its stated goal was to commercialise its sodium chloride solid state battery technology in collaboration with German battery institute Fraunhofer IKTS, which will remain a 25% joint venture partner in the Cerenergy project. Now, with the milestone approvals secured, the company will move forward with site clearing and construction, pending the successful completion of project financing.
Altech expects investment costs for the Cerenergy battery plant to total about $267 million (EUR 156 million). The newly secured permits are expected to have a positive influence on the ongoing talks with potential investors.
A definitive feasibility study (DFS) on the 120 MWh Cerenergy project ran alongside the permitting process project and was completed in March 2024. It included compelling economics, even at the relatively small first production line capacity. At full production capacity of 120 1 MWh GridPacks, the company’s DFS for the project indicates a pre-tax net present value of $289.7 million, annual revenue of €106 million, a $181.7 million EBITDA and a 3.7-year payback period.
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