Altech Batteries Limited has reported steady progress in securing funding for its CERENERGY sodium-chloride solid-state battery project in Saxony, Germany, with both debt and equity financing processes advancing in parallel.
The Perth-based company said it has identified a preferred financial institution – a major European bank with a strong track record in backing technology-driven and innovation-focused projects – as the likely provider of debt funding.
\While the formal mandate has not yet been signed, Altech noted that the bank’s technical due diligence team has already conducted site visits in Dresden and the Fraunhofer testing facilities, with an additional inspection scheduled at the prototype production site in Hermsdorf.
“The banks have visited Dresden and the Fraunhofer testing facilities and visit Hermsdorf, Germany where the prototype production is located in the coming weeks, which will be a key step in concluding the technical evaluation,” the company said.
Altech is also in discussions with the German federal government to obtain a guarantee that would underwrite the project debt. The guarantee would substantially reduce the risk for lenders. The company confirmed that officials from the Ministry of Finance have been briefed, and due diligence for the guarantee application is currently underway.
At the same time, Altech is working to secure the equity portion of the funding and is seeking a strategic partner to acquire up to 49 per cent of the project. The company has signed multiple non-disclosure agreements and circulated draft term sheets to interested parties.
“The Group on one hand is specifically targeting large utility companies, data centre operators, investment funds, and corporations that are deeply committed to the green energy transition and on the other hand industrial partners with access and know-how and resources relevant to Cerenergy battery production, implementation or market access,” Altech stated.
According to the company, securing such partners would help reduce its financial burden while aligning with CERENERGY’s long-term sustainability goals.
In addition to private funding, Altech has submitted applications for several government and EU grants aimed at supporting clean energy projects.
The company said its site is located in regions eligible for transition assistance from coal-based to renewable energy systems, increasing the likelihood of receiving public funding.
“These grants are part of broader efforts to transition regions dependent on fossil fuels toward sustainable energy solutions,” the company said, noting that the support would help finance infrastructure upgrades and employment of technical specialists.
