The Company is pleased to announce that its joint venture with Sunlands Co., Quantum Sunlands Partnership, has acquired the original equipment manufacture rights (OEM) for Sunlands Co.’s TES Graphite Cells. The name of the joint venture company will be changed to Sunlands Power, recognising its critical role in the delivery of the LDES technology to the market.
Highlights
Sunlands Power will be directly responsible for the manufacture and delivery to Sunlands Co. of the complete TES Graphite Cell facility. Included within this facility will be all the associated plant and equipment required for the connection to conventional thermal power plants (i.e., steam turbine generator packages). Importantly the OEM rights are not limited to or dependent on the flake graphite being sourced from the Company.
The Company's financial returns from Sunlands Power will be a significant addition to the returns delivered from its Uley 2 Project. Based upon the current market prices for graphite energy storage media and LDES facilities, the combined manufacture and sale of the flake storage media and the TES Graphite Cell facilities will generate revenues far in excess of those derived from the sale of Uley 2 flake to Sunlands Power. The Company will provide further information on the expected financial returns from its Sunlands Power interest upon the completion of the TES Graphite Cell pilot plant.
The capital to establish Sunlands Power's operations will be included within the sustainably linked bond financing currently being progressed by the parties. The Company and Sunlands Co. expect that Sunlands Power will deliver a return to them within the first year of achieving its minimum production capacity of 0.5GW of TES Graphite Cells per annum. This level of LDES requires a minimum 50,000 tonnes of Uley flake graphite based media.
Quantum Graphite director, Michael Wyer, commented that, "our initial arrangement with Sunlands Co. established the exclusive working relationship between the parties. The critical supply of the flake graphite-based energy storage media was the key step in building an end to end supply chain. The grant of OEM rights to Sunlands Power now underpins the Company's participation in the biggest market associated with the grid connected energy markets".
Key Target Market - Retrofitting of Coal Fired Power Stations
The Sunlands Power TES Graphite Cells are ideally suited to the retrofitting of coal fire power stations. Storing energy from renewables in the form of heat, TES Graphite Cells can retain this heat for weeks at a time and deliver this heat to pre-existing coal boilers to generate steam.
Essential to the generation of electricity from these power stations’ conventional turbine generators is the production of efficient high temperature steam. TES Graphite Cells’ high operating temperatures ensure the reliable, consistent production of high temperature steam to drive the type of utility scale turbines found at large grid scale coal fired power stations.
Deployment of TES Graphite Cells within existing coal fired power stations and their charging from renewables results in the direct reduction of CO2 emissions. In a typical 500MW (bitumus) coal fired thermal power plant, TES Graphite Cells can eliminate more than 3,000,000 tonnes of CO2 emissions per annum.
Cost Competitive Advantages of TES as Preferred Decarbonisation Solution
The Long Duration Energy Storage Council1 has stated that TES is a cost competitive decarbonisation solution today. It acknowledges that TES based LDES solutions are a more cost efficient (steam based) decarbonisation and electrification solution than carbon capture and storage (at existing coal fired power stations) or replacing gas with hydrogen or biomass.
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This article includes content from Quantum Graphite, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE: NMG , TSX.V: NOU ) announces today the payment of accrued interests as part of a previously announced private placement announced by press release dated November 8, 2022 (the "2022 Private Placement").
Settlement of Accrued Interests
Upon the approval of the TSX Venture Exchange and the New York Stock Exchange (the "Exchanges"), the accrued interests owed to Investissement Québec (the "Holder") for the first quarter of 2024 under the unsecured convertible note, as amended and restated, (the "Note") issued in connection with 2022 Private Placement, will be deemed paid.
141,786 common shares at a price of US$2.30 (each, a "Common Share") representing an aggregate amount of US$326,108 will be issued and share certificates will be delivered to the Holder at the maturity, conversion, or redemption of the Note in payment of the accrued interests due on March 31, 2024, for the first quarter of the year. The issuance of Common Shares is subject to the approval of the Exchanges and, when issued, will be subject to a hold period of four (4) months and one day.
In connection with NMG's private placements announcement on February 15, 2024 (the "2024 Private Placements"), interest under the unsecured convertible notes issued by NMG to Mitsui & Co., Ltd. and Pallinghurst Bond Limited, respectively, has ceased to accrue as of February 14, 2024.
Grant of Options
NMG also announces the grant of 2,562,500 stock options to directors, officers, and employees in accordance with the terms of the stock option plan of the Company, 66% of which will be vesting at the achievement of certain milestone in relation to a successful Final Investment Decision. Each option entitles the holder thereof to purchase one common share of the Company at a price of $3.12 per common share for a period expiring on April 1, 2029.
About Nouveau Monde Graphite
Nouveau Monde Graphite is an integrated company developing responsible mining and advanced manufacturing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With enviable ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com
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Cautionary Note
All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the potential conversion of the Note, the issuance of the Common Shares, approval by the Exchanges of the matters described in this press release, closing of the 2024 Private Placements with Mitsui & Co., Ltd. and Pallinghurst Bond Limited and those statements which are discussed under the "About Nouveau Monde Graphite" paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of Canadian and United States securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 27, 2024, including in the section thereof captioned "Risk Factors", which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov . Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information regarding the Company is available in the SEDAR+ database ( www.sedarplus.ca ), and for United States readers on EDGAR ( www.sec.gov ), and on the Company's website at: www.NMG.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240401351481/en/
Julie Paquet (elle/she/her)
VP, Communications & ESG
Nouveau Monde Graphite
514.458.6925
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Through its year-end financial reports and 2023 Annual Report , Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE: NMG , TSXV: NOU ) publishes a positive progress report in advancing what is projected to be North America's first integrated source of natural graphite active anode material for electric vehicles ("EV") and batteries. Strategically executing its phased development plan, NMG has continued operating its Phase-1 facilities to produce battery-grade samples and optimize its processes, has signed commercial agreements and strategic investments with Panasonic Energy Co., Ltd. ("Panasonic Energy"), a wholly owned subsidiary of Panasonic Holdings Corporation ("Panasonic") ( TYO: 6752 ) and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co. (collectively, "GM") ( NYSE: GM ), to underpin its Phase-2 commercial production, and has acquired the Uatnan Mining Project to support its Phase-3 expansion.
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NMG's 2023 Annual Report can be consulted at https://nmg.com/wp-content/uploads/2024/03/NMG-2023-Annual-Report.pdf (Graphic: Business Wire)
Arne H Frandsen, Chair of NMG, declared: "After months and years of relentless commercial engagement and product qualification efforts, we reached a transformational milestone: multiyear offtake agreements with global leaders Panasonic Energy and GM, accompanied by equity participation and further committed investments. Our trajectory towards becoming North America's leading, fully-integrated natural graphite producer is not just timely; it complements the collective goals of greater energy autonomy, national security, and sustainability."
Eric Desaulniers, Founder, President and CEO of NMG, said: "Record-breaking global spending on the clean energy transition – US$1.8 trillion investment – speaks volumes about the imperative necessity Western economies face in securing the minerals and advanced materials required to power new technologies. Our team is now updating our production parameters in light of Panasonic Energy and GM's specifications, and mapping our transition to commercial operations."
De-risking Technological Platform: Phase 1
The Company's Phase-1 facilities, covering every stage of NMG's integrated value chain, enable sample production for Anchor Customers and other potential customers, testing of production modules, refinement of process efficiency, as well as technological optimization of advanced manufacturing processes. Leveraging this technological platform, over 4,200 samples were reviewed and prepared by the Company's battery laboratory in 2023.
Production and batch testing according to the individual requirements of each manufacturer support sales discussions, engineering of the Phase-2 facilities, development of quality control and assurance protocols, and staff training in preparation for commercial operations. The Company has collaborated with education and industrial partners in the Bécancour region to launch an innovative training program to equip the local workforce with qualifications and training in green technology industrial processes . Five students within the first cohort are working at NMG Phase-1 plants throughout their training and are on track to become permanent employees upon their graduation.
Matawinie Mine & Bécancour Battery Material Plant: Phase 2
In February 2024, NMG entered into multiyear offtake agreements for its active anode material , covering approximately 85% of the Company's planned Phase-2 fully integrated production, with its Anchor Customers. NMG and Panasonic Energy signed a binding offtake agreement for the supply of 18,000 tpa of active anode material production for an initial period of seven years from the commencement of the Company's Phase-2 production. NMG also signed a supply agreement with GM for 18,000 tpa of active anode material for an initial term of six years.
Each of Panasonic and GM also made an initial US$25-million equity investment in NMG to support the advancement of the Company's Phase-2 operations in line with their respective product specifications. The Company is now updating production parameters for the Phase-2 Bécancour Battery Material Plant. Intel from Phase-1 operations and Anchor Customers' product specifications inform engineering and opportunities for technological refinement. Adjustments have namely been made to the graphite flotation cleaning circuit to optimize processing in refining stages, positively impacting both metallurgical performance and capital costs.
In addition, pre-construction planning is progressing for the Matawinie Mine and the Bécancour Battery Material Plant through the preparation of a detailed construction sequence and schedule, development of the contracting strategy including meetings with contractors to assess local capacity , as well as expansion of health and safety, environment, and quality programs. Construction Manager Pomerleau Inc. is also contributing to the budget revision and cost optimization exercises. Construction permit demands and long-lead items tendering packages are being prepared in view of the final investment decision ("FID") and launch of construction.
Following a positive FID, Panasonic, together with potential co-investors, and GM have committed to further invest an aggregate of up to US$275 million, subject to certain conditions, as part of construction funding for NMG's Phase-2 facilities. NMG continues to advance financing efforts with export credit agencies, governments, strategic investors, and potential customers to frame a robust capital structure that leverages international debt, government funding and equity.
The Company maintains intensive commercial discussions and continued product qualification with other tier-1 battery manufacturers for the balance of its Phase-2 production.
Growth Beyond: Phase 3
In January 2024, NMG acquired of 100% of the Lac Guéret Property, targeted for the development of the Uatnan Mining Project . As NMG's team expands its relationships with the Innu First Nation of Pessamit, the community and local stakeholders, the Company will prepare for subsequent studies to advance the Uatnan Mining Project to the feasibility stage.
The acquisition of another major asset in Québec, Canada, underpins the Company's expansion plans timed with projected supply and demand imbalance in the North American anode market (Benchmark Mineral Intelligence, Q4-2023).
Market Perspectives
The battery and EV outlook remains highly attractive with continued growth in the sector. In 2023, a remarkable 689 GWh was added to the EV parc, up 40% compared to the previous year (Adamas Intelligence, March 2024). EV sales crossed the adoption tipping point in 23 countries with a total of 13.6 million EVs sold globally – a 31% increase from 2022. Market analysts project further growth between 20% and 30% in 2024 (Rho Motion and Bloomberg, January 2024). To support EV manufacturing, the lithium-ion battery industry is now developing 9,388 GWh of global production capacity by 2030 through 415 gigafactories (Benchmark Mineral Intelligence, February 2024).
Raw materials required to produce batteries and EVs are becoming constrained in light of continued growth and geopolitical trade limitations. Since December 2023, China imposes restrictions on graphite exports, exacerbating pressure on the battery supply chain. China currently controls approximately 77% of the graphite extraction global production (US Geological Survey, January 2024) and 95% of spherical graphite refining for lithium-ion batteries (Benchmark Mineral Intelligence, February 2024).
In turn, the U.S. Government issued its guidance on foreign entities of concern for EV tax credits under the Inflation Reduction Act. Battery material companies' location, ownership, as well as technology licenses tied to China, North Korea, Iran, and Russia are specifically excluded from these incentives.
Such measures reaffirm the importance of establishing a local, resilient, and ESG-compliant supply chain of graphite to support battery and EV production. With an acceleration of graphite onshoring, North America is projected to overtake Asia as the region with the largest ex-China anode capacity (Benchmark Mineral Intelligence, February 2024).
Canada is among the emerging leaders of this new economy, ranking first, ahead of China, according to BloombergNEF's annual global lithium-ion battery supply chain report (February 2024), due to its mineral resources, ESG factors, key infrastructure, innovation, and industry including Québec's battery valley in Bécancour. NMG's site for its Phase-2 Bécancour Battery Material Plant is located at the center of this fast-developing zone, supported by the Québec Government's battery hub strategy.
NMG is positioning itself to respond to these market trends. The Company is strategically located to cater to the North American and European markets with its large graphite deposit, proprietary ecotechnologies, demonstrated production capacity, carbon-neutral profile as well as preferential jurisdiction advantages including clean hydropower, flexible logistical base, and stable fiscal and political environment.
Corporate & ESG
The Company is committed to providing a safe work environment to its staff and business partners. In 2023, NMG had an Occupational Safety and Health Administration ("OSHA") Recordable Incident Rate of 3.63 at its facilities and 0 at its contractors' worksite. NMG initiated a culture-shaping initiative in 2023 that is set to extend and expand as the Company prepares and launch construction of its Phase-2 sites, and later starts operational readiness planning.
For the same period, NMG maintained its track record with no major environmental incidents as per the Global Reporting Initiative's definition.
The Company reports GHG emissions of 644 tonnes of CO 2 equivalent associated with carrying out operations at its Phase-1 plants and corporate offices in 2023. NMG has purchased 660 carbon credits certified to the Verified Carbon Standard (VCS) Program to offset this balance. Credits align with NMG's Climate Action Plan offsetting strategy, drive investments in developing economies affected by climate change and support the following nature-based projects:
NMG voluntarily reports under the Climate Disclosure Project ("CDP") to demonstrate its management of climate risks and opportunities, environmental performance and GHG reduction efforts, as well as climate action. The Company's 2023 rating and survey responses are now publicly available on CDP's platform. Furthermore, a dedicated ESG Report set to be published in Q2-2024 will provide additional visibility over the extent of the Company's efforts and performance regarding climate action, environmental stewardship, governance, and social engagement.
NMG tops Benchmark Mineral Intelligence's Sustainability Index for producer as the only natural graphite producer in the "Industry Leading" category ahead of all Western, African, and Chinese producers according to the comprehensive examination of ESG practices, transparency, and engagement.
Alongside the Anchor Customers' investment, Mitsui & Co., Ltd ("Mitsui") ( TYO: 8031 ) committed to a private placement of US$25 million and Pallinghurst Bond Limited ("Pallinghurst") of US$12.5 million to surrender and cancel their respective convertible notes dated November 8, 2022, as amended and restated, subject to regulatory approvals and requirements of Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions ("MI 61-101"). A special meeting of the shareholders of NMG has been scheduled on May 1, 2024, to review the related party transactions as per MI 61-101.
NMG's period-end cash position is $36.3 million.
About Nouveau Monde Graphite
Nouveau Monde Graphite is an integrated company developing responsible mining and advanced manufacturing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With enviable ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world's leading lithium-ion battery and EV manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com
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Cautionary Note
All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the closing of the transactions contemplated with Pallinghurst and Mitsui, start of commercial operation of the Bécancour Battery Material Plant and the Matawinie Mine, the planned construction of the Bécancour Battery Material Plant and Matawinie Mine, the development of the Uatnan Mining Project, a positive final investment decision and closing of project financing, receipt of any regulatory approvals and permits in respect of the initiatives described herein, the anticipated benefits of the initiatives described herein, the Company's initiatives and commitments described in this press release, including those related to ESG, the positive impact of the foregoing on project economics, the Company's relationship with its stakeholders, including suppliers, contractors and employees, the realization of the condition precedents of the supply agreements and their entry into force, the intended supply of active anode material to GM and Panasonic Energy, expected volume of active anode material per year, market and industry trends, the general business and operational outlook of the Company, the intended results of the initiatives described in this press release and those statements which are discussed under the "About Nouveau Monde" paragraph and elsewhere in the press release which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of Canadian and United States securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for graphite concentrate, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favorable terms, sustained labor stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, the various tax assumptions, CAPEX and OPEX estimates, all economic and operational projections relating to the project, local infrastructures, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, those risks, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company's businesses, including the changes in China's policy regarding restrictions on Chinese graphite materials exportations, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG's Annual Information Form dated March 27, 2024, including in the section thereof captioned "Risk Factors", which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov . Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
The market and industry data contained in this press release is based upon information from independent industry publications, market research, analyst reports and surveys and other publicly available sources. Although the Company believes these sources to be generally reliable, market and industry data is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data-gathering process and other limitations and uncertainties inherent in any survey. The Company has not independently verified any of the data from third-party sources referred to in this press release and accordingly, the accuracy and completeness of such data is not guaranteed.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information regarding the Company is available in the SEDAR+ database ( www.sedarplus.ca ), and for United States readers on EDGAR ( www.sec.gov ), and on the Company's website at: www.NMG.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240328921660/en/
MEDIA
Julie Paquet
VP Communications and ESG Strategy
+1-450-757-8905, ext. 140
jpaquet@nmg.com
INVESTORS
Marc Jasmin
Director, Investor Relations
+1-450-757-8905, ext. 993
mjasmin@nmg.com
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Highlights
EXCELLENT PROJECT ECONOMICS
With a conservative investment estimate of €156 million, Altech's DFS not only demonstrates an excellent net present value (NPV) of €169 million (NPV9) but also generates a significant net cash flow of €51 million annually from operations. The estimated internal rate of return is 19%, ensuring a capital steady state payback in just 3.7 years. At full production capacity of 120 1MWh GridPacks, the anticipated annual revenue is €106 million. With an EBITDA of €51 million (margin of 47%), the project economics is compelling, even at this relatively small first production line capacity. With the anticipated growth of the grid storage market at 28% CAGR, Altech’s Board and joint venture partners have enthusiastically given the green light to proceed to the funding phase (Final Investment Decision) for this exciting project.
Watch video of Cerenergy Battery DFS Announcement https://youtu.be/LLb6DxlHTws
Watch Video Cerenergy DFS Ann
PROJECT OWNERSHIP STRUCTURE
In September 2022, comprehensive joint venture agreements were executed, marking the commencement of design works. Notably, a fully joint and several joint venture (JV) was established, consolidating all rights and know-how between the Fraunhofer-Gesellschaft, represented by the Institute for Ceramic Technologies and Systems (IKTS), and Altech Energy Holdings GmbH (AEH). This collaborative effort led to the creation of Altech Batteries GmbH (ABG) with 75% ownership by AEH and 25% by Fraunhofer Gesellschaft. AEH, in turn, is 75% owned by Altech Batteries Limited (ASX:ATC) in Perth, Australia, and 25% by Altech Advanced Materials AG (AMA) in Heidelberg, Germany - both publicly listed companies contributing to project funding.
FRAUNHOFER IKTS BACKGROUND
Fraunhofer, based in Germany, is the world’s leading applied research organisation. Prioritising key future- relevant technologies and commercialising its technology in business and industry, it plays a major role in the innovation process. Founded in 1949, Fraunhofer currently operates 76 institutes and research units with over 30,000 employees throughout Germany. Fraunhofer Institute for Ceramic Technologies and Systems (IKTS) is one of the 76 institutes that conducts applied research on high-performance ceramics. The Institute‘s three sites in Dresden and Hermsdorf (Thuringia), Germany, collectively represent Europe‘s largest R&D institute dedicated to the study of ceramics. The annual budget of IKTS is €83 million and it has 800 employees. As a research and technology service provider, Fraunhofer IKTS develops advanced high-performance ceramic materials, industrial manufacturing processes as well as prototype components and systems in complete production lines up to the pilot-plant scale. The electrolyte within the CERENERGY® battery is a ceramic product manufactured from alumina.
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