Altech Chemicals Limited announced that it has executed a framework agreement with leading German institute Fraunhofer IKTS ("IKTS"), as a strategic partner to expedite the testing and qualification process for the Company's Silumina AnodesTM product. IKTS boasts labs, technical centres with outstanding equipment at its sites in Dresden (Saxony), Hermsdorf (Thuringia) and several other sites in Germany. IKTS is considered as one of, if not the leading know-how and research centre for battery materials in the world .

IKTS recently opened their Battery Innovation and Technology Center (BITC) in Arnstadt. The main objective of the strategic partnership is for IKTS to independently test the long-term performance of Altech's Silumina AnodesTM battery material in various battery applications. IKTS, through its extensive lithium-ion battery research and network of partners, will be able provide extensive performance testing of various types of battery applications that will assist the qualification process of the Silumina AnodesTM product for potential customers.

Altech is well funded to complete a pilot plant adjacent to its industrial site in Saxony, Germany, in order to supply commercial samples to potential downstream customers and for the qualification process. Altech recently completed a pre-feasibility study for a 10,000 tpa Silumina AnodesTM plant in Germany. The Company's silicon graphite composite product not only achieves a much higher energy capacity than the conventional graphite anode, it is also stable during the life of the battery.

The Company announced in late 2021 that it had achieved a 30% higher energy battery with improved cyclability or battery life, and is now in the process of commercial development.