Frankfurt am Main (pta005/26.10.2020/10:40) - Altech Advanced Materials AG ("AAM / the Company",) (FRA: AMA1) today signed a Memorandum of Understanding with Altech Chemicals Limited's ("Altech") under which AAM will acquire a 25.0% interest in Altech Chemicals Limited's ("Altech") wholly owned German subsidiary Altech Industries Germany GmbH ("AIG"), Dresden, for a purchase price of EUR 5 million.
ATC has started the development of a high purity alumina (HPA) specifically for anode applications in lithium ion batteries. This initiative is a response to the development trends in anode development for lithium ion batteries identified by Altech in Europe through its collaboration with potential HPA users and through its work with research organizations such as the internationally renowned Fraunhofer-Gesellschaft, Fraunhofer Institute for Ceramic Technologies and Systems (IKTS) in Dresden, Germany. The new product line will be referred to as "Anode Grade APC01" and "Anode Grade ALC01", together hereinafter referred to as "Anode Grade". It is intended that Anode Grade will (also) be manufactured at AIG.
ATC also intends to build a second facility for the production of high purity alumina (4N HPA) through its subsidiary AIG, for which a feasibility study is currently underway. AIG will obtain rights to use patents held by ATC and/or Altech Chemicals Australia Pty Ltd in relation to the production of HPA and Anode Grade.
Under the terms of the Memorandum of Understanding, AAM will pay the purchase price to ATC in four installments over a three-year period, and AAM agrees to participate pro rata in AIG's capital measures to finance the two projects to be implemented there, namely the production of anode grade HPA-coated graphite for the anodes of lithium ion batteries and the production of high purity alumina based on the patented Altech process. For the construction of an HPA plant in Saxony, the Saxon State Ministry of Economics, Labour and Transport has already committed EUR 7.38 million to AIG.
It is planned to produce the anode quality product range developed by Altech already before construction of the HPA factory with purchased HPA at the planned site and to sell it to European customers in the lithium ion battery industry.
The Board of Directors(end)
|emitter:||Altech Advanced Materials AG|
Ziegelhäuser Landstraße 3
|contact person:||Hansjörg Plaggemars|
|phone:||+49 6221 64924-0|
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