Altech Batteries (ASX:ATC) is entering the sodium nickel chloride battery market across Europe, the United States, and Australia after this week signing a collaboration agreement with Chilwee Group-owned AMPower.
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The deal will see AMPower produce battery packs under Altech’s branding. The Oz battery developer will also control “specifications and supervision.”
These batteries will be SNC uninterrupted power supply units; they’re designed for reliability in extreme temperatures, are fireproof, long-lasting, and can stay fully charged for as long as 10 years without maintenance. They can also be used in explosion-proof environments and any locations where lithium-ion is restricted.
Battery models soon to be under Altech’s branding will include the E4815 (13kWh), E4810 (10kWh), E1109 (9kWh), S6250 (25kWh), E1205, and E620 (20kWh).
Once AMPower has steadied that production flow, it will then produce sodium nickel chloride batteries for “broader applications” – including, Altech has suggested, household, industrial, and grid-scale energy storage systems.
Under the agreement, Altech and AMPower will also work together to co-develop small and medium “BESS” solutions. That will be sold under each company’s branding.
“Our collaboration with AMPower enables immediate production, and our offtake customers are eager to secure supply,” Altech MD Iggy Tan said.
“With special focus on UPS as well as small and medium-size energy storage, this early market entry strategy is augmenting and not competing with the large-scale grid energy storage CERENERGY Battery strategy.
“By moving quickly to meet demand, Altech is positioning itself as a leader in what we see as the next major wave in battery storage innovation.”
This agreement sets up a quicker path to cash flow while Altech focuses on the CERENERGY 120Mwh energy storage project in Germany. The Australian developer just landed €46.7 million in government funding there, too.
ATC has been +60% higher this week; shares are selling at 5.3c/ea.
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