Altech Batteries Ltd (ALTHF) CERENERGY Environmental and Construction Approval
Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is excited to announce that it has received the BimSch-G approval, an environmental and construction permit, for its 120 MWh CERENERGY(R) GridPack production facility in Saxony, Germany. With this approval secured, the Company's joint venture German subsidiary Altech Batteries GmbH (ABG) is now positioned to start site clearing and construction, pending successful project funding.
Altech, in collaboration with its engineering subcontractor LEADEC and its architecture and balance of plant subcontractor ARIKON, submitted an application for a permit and license to the authorities for the proposed construction and operation of the 120 MWh CERENERGY(R) battery project in September 2023. In Germany, the approval process for construction and operation is determined by the environmental risk impacts, with most projects falling under the jurisdiction of the German Federal Immission Control Act (known as BimSchG) for federal approval.
The Company took a proactive approach by initiating the project's permit and license process in parallel with the DFS process. This strategic decision has prevented any potential delays in project execution once financing is secured. Furthermore, obtaining environmental and construction (BimSch-G) approval will provide financial institutions with a higher degree of confidence.
Group Managing Director Iggy Tan stated "We are pleased to have received the final licensing approval for our 120 MWh CERENERGY(R) battery project so early. Our approach of being dynamic, quick moving and to run things concurrently, puts Altech in good stead to complete the financing process. We appreciate the authorities' recognition of our professional and responsible approach, and we're thankful for their exceptional support".
Corporate Iggy Tan Managing Director Altech Batteries Limited Tel: +61-8-6168-1555 Email: info@altechgroup.com Martin Stein Chief Financial Officer Altech Batteries Limited Tel: +61-8-6168-1555 Email: info@altechgroup.com
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