UPDATE: Altech Batteries has just announced a complete overhaul of its board, paving the way for a strategic push to commercialize its groundbreaking battery technologies. The new leadership team, led by Daniel Raihani, is charged with transforming the promising CERENERGY sodium solid-state batteries and Silumina anodes into market-ready solutions.
This urgent management shift comes at the request of Altech’s largest shareholder, Altech Advanced Materials AG (AMA), which, along with the Deutsche Balaton Group, controls approximately 28 percent of the company. Altech is currently developing pilot plants in Saxony, Germany, focusing on battery anode coatings and high-purity alumina.
Raihani, known for his rapid boardroom transformations across the Australian Securities Exchange (ASX) micro-cap sector, emphasized the need for immediate action: “Altech possesses two genuinely world-class technologies in CERENERGY and Silumina Anodes, and it is imperative that we now take the actions required to ensure these assets reach their full commercial potential.”
With a solid background in finance and resource management, Raihani brings over 20 years of experience to the role. His recent accomplishments include significant leadership roles in various companies, further establishing his reputation as a dynamic force in the industry.
The newly formed board, including non-executive chair Joe Graziano and non-executive director Hansjoerg Plaggemars, has quickly set an aggressive agenda. Their focus is on forming strategic partnerships with battery manufacturers, chemical giants, and government programs to maximize the potential of Altech’s technologies.
A critical objective for the new leadership is to secure a €46.7 million (A$82.8 million) German STARK grant designated for Altech’s 120MWh CERENERGY plant in Saxony. This funding requires confirmation of full financing before it can be accessed, making it a top priority for the team.
In addition to pursuing this grant, the board plans to streamline operations by rationalizing non-core assets. This includes reviewing the Meckering kaolin deposit and other holdings in Malaysia to reduce cash burn and reinvest capital back into core projects.
The board is also assessing Altech’s AMPower uninterruptible power supply (UPS) project, weighing the potential sale of its industrial UPS units against the need to focus resources on its more lucrative battery technologies.
With the new management firmly in place, Altech Batteries is signaling a decisive shift from merely advancing technical achievements to executing a robust commercial strategy. The focus is now on tightening the portfolio, chasing partnerships, and ensuring that every project is evaluated for its ability to generate value quickly.
As Altech embarks on this transformative journey, the urgency for investment and strategic collaboration has never been more critical. This represents a significant moment for the company as it seeks to attract serious funding interest and create tangible impacts in the battery technology market.
Stay tuned for more updates as Altech Batteries pushes forward with its ambitious plans. Is your ASX-listed company doing something interesting? Contact: [email protected]
