Altech Chemicals Limited advised that, in relation to its battery joint venture with Fraunhofer, it has designed and launched the CERENERGY® Sodium Alumina Solid State (SAS) 60 KWh battery pack (ABS60) designed for the renewable energy and grid storage market. Based on preliminary discussions with potential off-takers for the 100MWh CERENERGY® battery project, the proposed battery module for 10 kilowatt-hours (KWh) has been superseded by a 60 kilowatt-hour (KWh) battery pack (ABS60) rated at a higher voltage of 620 volts and 100 amp hour (Ah). Altech announced a JV Agreement with world-leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise Fraunhofer's revolutionary CERENERGY® Sodium Alumina Solid State (SAS) Battery.

Altech, together with associated Altech Advanced Material AG, will be the majority owner at 75% of the JV company, which will commercialise a 100 MWh project to be constructed on Altech's land in Schwarze Pumpe, Germany. CERENERGY® batteries are the game- changing grid storage alternative to lithium-ion batteries. CERENERGY® batteries are fire and explosion- proof; have a life span of more than 15 years and operate in extreme cold and desert climates.

The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns. The Altech-Fraunhofer joint venture is developing a 100 MWh SAS battery plant (Train 1) on Altech's site in Saxony, Germany specifically focussed on the grid (stationary) energy storage market The ABS60 battery pack will consist of 240 CERENERGY® cells (rated at 2.5 V each) arranged in 4 rows of 12 cells, and 5 cell modules high. The battery packs will have a dimension of 2.6m high, 0.4m long and 1.0m in width.

The packs are designed for Ingress Protection (IP) 65 standard (levels of sealingeffectiveness of electrical enclosures) which means that they will be dust and weatherproof. The battery packs can be installed outdoors in all weather conditions. Since the CERENERGY® batteries can operateat a very wide temperature range, minus (-) 40 deg C to plus (+) 60 deg C, the battery pack will be ideal for the cold European climates.

In addition, being fire-proof, the ABS60 battery packs will be safe to installed indoors where lithium-ion batteries are prohibited. The benefit of the larger ABS60 battery pack is that it will allow more efficient installation in renewable energy storage and grid storage applications. The larger packs will reduce module assembly casing and connecting costs.

There is a cost advantage of using one Battery Management System (BMS) processor versus six BMS processors for the previously envisaged individual 10 KWh modules. The fuse and disconnectors will also be reduced by the same factor for a larger 60 KWh battery. The battery plant will now be designed to produce ABS60 battery packs as a standard product to meet Europe's renewable energy and grid storage market.

Fraunhofer have previously estimated that the cost of producing CERENERGY® batteries should be in the region of 40% cheaper than lithium-ion batteries, primarily due to not requiring lithium, graphite, copper or cobalt. This will be confirmed in the Bankable Feasibility Study that Altech is currently undertaking.