Frankfurt am Main (pta010/23.12.2020/11:00) - Altech Advanced Materials AG ("AAM / the Company",) (FRA: AMA1) had entered into an option agreement with Altech Chemicals Limited ("ATC"), a public company listed in Australia, and Altech Chemicals Australia PTY LTD ("Altech Australia") on July 17, 2019, which allows AAM to acquire up to 49% interest in Altech Australia's high purity alumina project ("HPA") for up to USD100 million. The option expiry date has been January 1, 2021. AAM, ATC and Altech Australia today agreed to extend the option agreement for 6 months on the same terms, until July 1, 2021.
Furthermore, AAM today concluded the purchase agreement with ATC regarding the acquisition of 25% of the shares in Altech Industries Germany GmbH, Dresden, ("AIG"). AIG holds the exclusive rights for the European Union to Altech Australia's patents relating to the manufacture of HPA and Anode Grade. Anode Grade allows the alumina coating of graphite particles for the anode of a lithium-ion battery ("LIB") and is expected to significantly reduce its initial capacity loss in the first charge cycle and significantly increase the lifetime of a LIB. Independent tests on this together with, among others, the Fraunhofer Institute in Dresden have been started.
The Executive Board(end)
|emitter:||Altech Advanced Materials AG|
Ziegelhäuser Landstraße 3
|contact person:||Hansjörg Plaggemars|
|phone:||+49 6221 64924-0|
|stock exchanges:||regulated market in Frankfurt; free market in Dusseldorf; open market in Berlin|