Altech Batteries Extends Grant Deadline for CERENERGY Project and Discontinues Silumina Anodes
Altech Batteries has extended the deadline for securing full financial close on its €46.7 million German government grant for the CERENERGY sodium-chloride solid-state battery project from June 30 to September 30, 2026. The funding is part of Germany's STARK economic development program and could cover up to 30% of eligible capital expenditures in Saxony. This extension allows Altech more time to finalize financing arrangements for the long-duration energy storage solution aimed at replacing lithium-ion batteries. In a strategic shift, Altech has discontinued its Silumina Anodes battery materials project after six years due to lack of commercial traction and insufficient funding support from partners. The company liquidated Altech Industries Germany GmbH on June 30, 2026, with plans to monetize assets including land and equipment for proceeds that will be returned as shareholder value. Altech also completed the sale of non-core land in Meckering, Western Australia, generating $950,000 in gross proceeds. The company retained its mining lease interest while securing a new agreement with the buyer to preserve future development rights.