Altech Batteries Axes AMPower Deal to Double Down on Core Technologies

Altech Chemicals Limited ( (AU:ATC) ) has shared an update.

Altech Batteries’ newly reconstituted board has decided to terminate immediately its distribution partnership with Chinese sodium nickel chloride battery producer AMPower, concluding that the venture did not offer sufficient financial returns for the risk and resources required. The company will instead concentrate its capital and management attention on maximising the commercial potential of its in-house CERENERGY solid state grid-storage batteries and Silumina Anodes EV-focused materials, signalling a strategic refocus on proprietary technologies that it believes can deliver stronger long-term value and sharpen its competitive positioning in Europe’s rapidly evolving battery supply chain.

The most recent analyst rating on (AU:ATC) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on Altech Chemicals Limited stock, see the AU:ATC Stock Forecast page.

More about Altech Chemicals Limited

Altech Batteries Limited is an Australia-headquartered specialty battery technology company focused on commercialising two key projects in partnership with German institutions and European industry. Through a joint venture with Fraunhofer IKTS, it is developing CERENERGY sodium chloride solid state batteries as a safer, lithium-free alternative for grid-scale energy storage, with plans for a 120 MWh production facility in Saxony, Germany. Separately, via its subsidiary Altech Industries Germany, the company is advancing its Silumina Anodes silicon–alumina coating technology to boost lithium-ion battery energy density for the European electric vehicle market, backed by a completed feasibility study, a planned 8,000 tpa plant, a pilot facility under construction, and green accreditation from CICERO.

Average Trading Volume: 8,221,918

Technical Sentiment Signal: Sell

Current Market Cap: A$64.05M

See more data about ATC stock on TipRanks’ Stock Analysis page.