Altech Batteries Limited has announced a $6 million capital raising to support the advancement of its battery manufacturing and commercialisation initiatives across Australia, Europe and the United States.
Altech said the new shares and options will be issued under its existing capacity in line with ASX rules, with the share issue expected to take place on 20 October 2025.
According to the ASX-listed company, the funding provides financial flexibility to progress several near-term manufacturing and commercialisation milestones.
These include initial trials and sales of its advanced uninterruptible power supply (UPS) batteries, development of its 120 MWh CERENERGY® production facility in Germany, completion of a larger 90kWh CERENERGY battery prototype, and a preliminary assessment for a potential 4 GWh giga-factory.
Managing Director Iggy Tan said the company was encouraged by market interest in its current initiatives, describing the capital raise as timely for Altech’s next stage of development.
“This capital raise comes at an exciting time for Altech as it establishes its selling, distribution and installation infrastructure for AMPower-produced Altech branded sodium nickel chloride batteries and advances the commercialisation of its 120MWh CERENERGY® battery project,” Tan said.
He added that with the operation of the Silumina Anodes pilot plant completed and non-disclosure agreements signed with major car manufacturers in the US and Europe, Altech is preparing to provide commercial samples of its product.
“A portion of the funds will also be allocated to a preliminary study for a larger 4 GWh battery facility, marking the next significant step towards commercialisation,” Tan said.
The placement was jointly managed by Evolution Capital and Alpine Capital, with a combined 6 per cent fee on all funds raised and 60 million options issued as part of the transaction.
The content of this article is based on information supplied by Altech Batteries Limited. For more information, please refer to the official company announcement and communications from Altech. Please consult a licensed and/or registered professional in this area before making any decisions based on the content of this article.
