Altech (ASX:ATC) proffer new battery chemistry

Altech Batteries has released specifications for their CERENERGY 60 KWh (ABS60) and 1 MWh GridPack battery products, which have the potential to revolutionise the renewable energy and grid storage markets.

These batteries could provide the reliable baseload power that has been missing at a time when the grid energy storage market is expected to experience a compound annual growth rate of 28% over the next decade, with it projected to reach USD 15.1 billion by 2027 from USD 4.4 billion in 2022.

Altech says the chemical composition of the ABS60 is a significant breakthrough, enabling them to discuss potential off-take partners and secure future sales in the lucrative grid storage battery market.

“The increasing demand for renewable energy sources has highlighted the importance of reliable and efficient energy storage solutions,” the Company said.

“Grid storage batteries play a crucial role in balancing energy supply and demand, ensuring stable power delivery, and maximising the utilisation of renewable energy sources.”

According to Altech, countries reliant on weather-dependent renewables like wind and solar are reaching their limitations, and the intermittent nature of these sources raises concerns about the power supply.

“The issue is exacerbated by the short, dark, and cold midwinter days that pose a particular challenge for meeting power demand through renewables,” it said.

“Additionally, surpluses pose a significant issue, leading to substantial wastage of electrical power. Grid battery storage is essential to maintain a delicate balance in power supply and ensure a stable and reliable energy infrastructure while accommodating fluctuations inherent in renewable energy sources.”

ALTECH BAT FPO [ATC]

Sector: Basic Materials

Industry: Specialty Chemicals

Employees: 24

Altech Batteries Limited, together with its subsidiaries, operates as a specialty battery technology company in Australia, Germany, and Malaysia. It operates through Silumina Anodes, CERENERGY, and High Purity Alumina segments. The company holds interests in the CERENERGY Battery Project, an alternative to lithium-ion batteries for grid storage; Silumina Anodes Project, a high-purity alumina coated silicon and graphite anode material for batteries; and high purity alumina project. It also engages in kaolin mine and other mineral exploration activities. The company was formerly known as Altech Chemicals Limited and changed its name to Altech Batteries Limited in February 2023. Altech Batteries Limited was incorporated in 2007 and is based in Subiaco, Australia.

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ALTECH BAT FPO [ATC]

ASX

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