Altech’s main focus is the planning, design and construction of a 120-megawatt-hour (MWh) plant in Germany to produce the CERENERGY modular energy storage batteries – whose technology has been innovated by joint venture partner, Fraunhofer IKTs.

Crucial to this technology is the use of table salt, which facilitates construction of a battery without lithium, copper, cobalt, graphite or manganese elements; a battery which – unlike the regular lithium-ion type, can tolerate a wide range of temperatures, and last for 15 years.

On this basis, the company argues that SCSS batteries will be the grid battery storage of the future.

On October 1, Altech told investors that it had completed a first prototype of the CERENERGY battery, which had been installed in Fraunhofer IKTs’ test laboratory in Dresden, and was undergoing daily testing, with early results indicating its ability to maintain exceptional thermal stability – an important measure for evaluating high-capacity energy storage systems.

Also being assessed at the lab were CERENERGY’s efficiency, stability and overall performance under real-world conditions.

Since then, Altech’s main moves to develop the project have been around funding, starting with a share placement earlier this month which enabled it to raise $4 million by issuing 66,666,667 ordinary shares at 6 cents each.

Part of the funding was plugged into development of a longer-term financing strategy and bank due diligence for CERENERGY, with the first stage of this announced on November 22.

An important milestone was the development of an ‘invitation document’ which German subsidiary Altech Batteries GmbH (ABG) sent out to various financial institutions to check their interest in providing debt funding for the project, with several expressing enthusiasm.

Altech CEO and managing director Iggy Tan said he was pleased with the outcome.

“We recently appointed a debt advisor – one of the top accounting firms in Germany – which a lot of experience in funding these types of green projects and an extensive network of banking contacts,” he said.

“The process has been about onboarding these debt advisors and we have now completed an investment document which we call the ‘teaser’ and have also established a project data room for the due diligence process.

“The teaser has gone out to 10 investment banks in Europe, including two venture debt funds and the positive news is the feedback is very positive. These banks have come back and indicated they would be interested in the debt funding side of this project.”

Dept funding was only the first stage in a three-stage process, Mr Tan said, adding that after that came the grant component and finally equity funding.

“With regard to the grant component, there’s a lot of money in the EU as well as Germany looking to help projects like ours in the green transition,” he said.

“In the coming months, we’ll report the outcomes of these grants.”

Regarding equity funding, Altech planned to invite a strategic partner to join them in the project, and then sell them a minority interest.

This would provide two key advantages, according to Mr Tan.

“There will be an injection of funds to the project immediately, and we can use that to order long lead items for the project,” he said.

“And secondly, we’re looking for the strategic partner to add value to the whole process of establishing this first 120 MW plan as well as the future giga factories.”

Preferred partners for this would include large utility groups, data centre operators, investment funds and corporations that are heavily involved in the green energy transition.

With a definitive feasibility study (DFS) ticked off earlier in the year, and the success of the CERENERGY prototype also pointing to a positive future for the project, Altech has also made some prime moves when it comes to offtake arrangements.

“What we’re trying to do is get the first five years of our project sold so that it will help the funding process,” Mr Tan said.

“We announced recently (in September) the first offtake of 30 MW per annum to a company called ZISP (Zweckverband Industriepark Schwarze Pumpe). This is essentially the industrial park that we exist in, and they have EU funds to convert the power in that path to renewable energy from coal fired power.

“They have funds available and their project is to start converting the renewal power to renewable energy and as part of that they need grid storage batteries. So essentially they’ve signed up for 30 megawatts per annum for five years and we’re in the process of getting more offtake.”

Altech has been trading at 4.8 cents.

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Initially opening on August 9, the Prospectus Offer allowed eligible shareholders to apply for up to $30,000 new shares priced at A$0.38.

Having closed the offer on August 23, Talga said that in light of shareholder support – and to reduce dilution of returning shareholders – the board agreed to increase the offer size to A$9 million and to scale back applications going beyond this amount.

The result marks Talga’s second successful round of capital raising since the end of the financial year – which has banked them A$18.5 million altogether – following on from a recent institutional placement which raised A$9.5 million.

Overall, the company’s cash balance as of 30 June 2024 was sitting at A$14.1 million.

Proceeds from both capital raising efforts will be plugged into Talga’s Vittangi Anode Project development (with this being at the pre-FID stage), progression of expansion studies, progression of the SQM lithium JV and general working capital.

Managing Director Mark Thompson said he was pleased with the successful raisings.

“We thank all of our shareholders who continue to demonstrate their strong support for our joint mission,” he said.

“The proceeds from the oversubscribed Prospectus Offer, together with the proceeds from the placement, will bolster our Company’s ability to deliver key milestones.”

At 11:48 AEST, Talga shares were trading at 42 cents: a fall of 8.69% since the market opened.

It’s a re-listing focussed on the Falcon Lake lithium project in Ontario, Canada, with secondary projects targeting copper in Morocco and zinc, lead and germanium in Austria.

As part of the relisting process, BM8 has raised $6.5 million through a capital raise at a share offer price of 40 cents with a one-for-one attaching option at 50 cents.

Battery Age has been restructured as an international explorer focussed on highly-sought future-facing minerals through the acquisition of its three assets.

The company plans to begin a maiden drilling program at Falcon Lake in the first half of this year.

It will also progress exploration at the unexplored Tidili copper-gold project in Morocco, as well as the Beliberg zinc, lead and germanium project in Austria. Germanium is a key element in the production of semiconductors, microchips and other high-value applications.

Battery Age is led by an experienced board and management team including Chairman Robert Martin and CEO Gerard O’Donovan.

Mr O’Donovan worked as a project manager at lithium producer Pilbara Minerals (PLS) during its growth phase and led the development of the world-class Pilgangoora lithium-tantalum mine and processing facility. He also managed the upgrade, recommissioning and restart of the Njungaju mine and processing facility.

Mr O’Donovan said the Falcon Lake project had been explored sporadically during the 1950s and again between 2010 and 2016.

“Previous explorers generated significant intercepts of spodumene mineralisation and defined at least three known lithium occurrences which have been very lightly explored,” he said.

“We are excited to re-launch the company on the ASX as Battery Age Minerals, giving investors exposure to a diversified portfolio underpinned by a high-quality lithium exploration asset.”