- Altech Batteries (ASX:ATC) wound up the December quarter with just over $9 million in cash
- The company is progressing with its Silumina Anodes project in Germany
- Altech received funds for the sale of 25 per cent of a subsidiary
- Shares last traded at 5.8 cents
Altech Batteries (ASX:ATC) has posted its quarterly for Q2 FY24, showing the company ended with $9.2 million at the end of December.
During the quarter, the company received €1.58 million for the sale of 25 per cent of Altech’s stake in its own Altech Advanced Materials AG.
The definitive feasibility study (DFS) for the Silumina Anodes project was also posted, that project seeks to develop disruptor technology to boost the performance of lithium-ion batteries.
DFS specifics
Under the DFS, the company now sees a path towards 8000 tonnes of Silumina Anode production per year with customers to blend coated silicon with their own uncoated graphite.
Graphite is typically used in anodes due to superior conductivity properties. A 34 per cent rate of return was whacked onto the project.
Altech is hopeful it can exploit recent graphite export curbs from China to its benefit, should a hostile trade landscape continue to define the 2020s.
CERENERY batteries roll on
Meanwhile, the company’s other flagship operation, the production of “CERENERGY” heat-tolerant batteries, carries on.
The company believes it can produce 120 1-megawatt-hour batteries per year with those assets designed to be stacked.
The company is cashed up for the next 3 quarters.
ATC shares last traded at 5.8 cents.