Altech Batteries Ltd (ALTHF) Strategic Direction to Discontinue with AMPower

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) advised that, as part of a comprehensive strategic reset by its newly constituted Board of Directors, it has decided that it will discontinue, effective immediately, its partnership with AMPower, the Chinese producer of sodium nickel chloride (SNC) batteries for the uninterrupted power supply (UPS) market.

The Board has determined that the AMPower strategy does not constitute a sufficiently attractive financial return to the Company to compensate for the risk and resources associated with pursuing the AMPower distribution partnership.

Moreover, the Board believes that Altech possesses two genuinely world-class technologies itself in CERENERGY(R) and Silumina Anodes(TM), and it is imperative that the Company now focuses on trying to deliver the full commercial potential of these projects. As previously communicated, the Company is therefore concentrating on finding the right partners to allow commercialisation of these technologies.

Daniel Raihani
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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