Altech makes DFS headway on the CERENERGY® Battery Project in Germany
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The development of the CERENERGY® 60KWh sodium alumina solid state battery has raced ahead, with key engineering companies appointed and design works launched.
As the world transitions from a fossil fuel economy to a sustainable energy economy, scale and ramp up of battery storage solutions are required.
CERENERGY® batteries are the game-changing grid storage alternative to lithium-ion batteries with a life span of more than 15 years and being fire and explosion proof.
The battery technology uses table salt and is lithium-free, cobalt-free, graphite-free, and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.
The Altech-Fraunhofer joint venture is developing a 100MWh sodium-alumina solid state (SAS) battery plant on Altech’s (ASX:ATC) land in Saxony, Germany, specifically focussed on the grid (stationary) energy storage market.
Since the CERENERGY® batteries can operate at a very wide temperature range of minus 40 degrees to plus 60 degrees, the battery pack will be ideal for the cold European climates.
In addition, being fire-proof, the ABS60 battery packs will be safe to install indoors where lithium-ion batteries are prohibited.
Altech aims to secure off-take interest as part of the Definitive Feasibility Study (DFS) and as support for funding the project.
In fact, Altech is exploring various grant schemes within Germany at state and federal level as well as the EU and has held discussions with leading European banks in preparation for the funding stage.
“We have moved very quickly on the opportunity and managed to close the joint venture agreement with Fraunhofer and incorporated two companies in just two months, with one month being the August holidays in Germany,” ATC managing director Iggy Tan says.
“Since that time, we have raced to get the project moving with several commencement workshops.
“I am very pleased with the team we have assembled, and the outstanding progress made thus far.”
The battery plant is being designed to produce ABS60 battery packs as a standard product to meet Europe’s renewable energy and grid storage market.
German government owned Fraunhofer, Europe’s largest application-oriented research organisation, have estimated that the cost of producing CERENERGY® batteries should be in the region of 40% cheaper than lithium-ion batteries, primarily due to not requiring lithium, graphite, copper, or cobalt.
This will be confirmed in the DFS that Altech is currently preparing.
This article was developed in collaboration with Altech Chemicals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.