Altech Chemicals Ltd (ASX:ATC) 25% Sale of Altech Industries Germany Finalised
25% Sale of Altech Industries Germany FinalisedPerth, Dec 23, 2020 AEST (ABN Newswire) - Altech Chemicals Limited (
FRA:A3Y) is pleased to announce that it has now finalised the sale of 25% of its German subsidiary, Altech Industries Germany GmbH (AIG), for EUR 5.0 million (~A$ 8.3 million) to Frankfurt Stock Exchange listed Altech Advanced Materials AG (AAM).
Highlights
- Acquired by Frankfurt Stock Exchange listed Altech Advanced Materials AG
- EUR5.0 million (A$8.3 million) payable over 3 years
- Initial EUR250,000 cash consideration received
- AIG has the right to use Altech s HPA manufacturing technology
Confirmation of Graphite Alumina Coating Technology - Key to Lithium-ion Batteries Evolution
Confirmation of Graphite Alumina Coating TechnologyPerth, Dec 23, 2020 AEST (ABN Newswire) - Ground breaking research by an Australian high purity alumina (HPA) company has announce the success of an initial demonstration of a new alumina product and technology specifically designed for anode applications within lithium-ion batteries. A first phase demonstration was conducted at Curtin University, Western Australia during late November 2020 and resulted in the successful application of a uniform and consistent two to three (2-3) nano-metre (nm) coating of alumina to graphite particles.
Thin layer alumina coating of graphite particles used within the lithium-ion battery anode could be a game changer for the evolution of lithium-ion battery performance. Thin layer coating of alumina on anode graphite particles can measurably improve lithium-ion battery life, capacity and chargeabili
Altech Chemicals Ltd (ASX:ATC) Confirmation of Graphite Particle Coating
Highlights
- New product development targeting lithium-ion battery anode
- Specially designed formulation and coating process
- Potential improvements to lithium-ion battery life, capacity and chargeability
On 23 September 2020, Altech announced that as a result of its ground-breaking research and development work the Company was proceeding to an independent verification phase of its method for the alumina coating of graphite particles. A first phase demonstration was conducted at Curtin University, Western Australia during late November 2020 and resulted in the successful application of a uniform and consistent two to three (2-3) nano-metre (nm) coating of alumina to graphite particles.
Altech Chemicals Ltd (ASX:ATC) Termination of SMI Funding Agreement
FRA:A3Y) advises that the share purchase subscription agreement (the Agreement) with Specialty Materials Investments LLC (SMI) announced on 21 April 2020, has been terminated by mutual consent of the parties, and no further funding will be provided by SMI to the Company under the Agreement.
Altech managing director Iggy Tan commented SMI provided funding for the Company and our HPA project during what was both a volatile period in the global markets and a transitional period for the Company. SMI has been a flexible, supportive, responsive and responsible funding partner to Altech. SMI s funding has been instrumental in bridging the Company s capital requirements, which provided it time to execute the extremely successful capital raising that was announced on 16 December 2020. SMI remains a shareholder of the Company, and we thank it for its support.
Altech Chemicals Ltd (ASX:ATC) $12.5 million raised from Rights Issue
FRA:A3Y) is pleased to advised that $12.5 million has been raised (before costs) via its non-renounceable entitlement offer that was launched on 9 November 2020, and closed 11 December 2020.
The entitlement offer was on the basis of two (2) new shares at $0.04 each for every five (5) shares held by Altech shareholders at the Record Date (13 November 2020), plus one free attaching option for each two (2) new shares subscribed and issued (exercise price $0.08, expiry 31 May 2022) (the Offer).
Applications for entitlement shares (inclusive of applications for shortfall shares in excess of entitlement) were received from 655 shareholders for a total of $7,337,213 (183,430,336 new shares and 91,715,168 attaching options).