Altech Batteries (ATC) Q1 2025 TU earnings summary

Executive summary

• CERENERGYⓇ 60kWh battery prototype completed, operating, and exceeding performance expectations; daily testing underway in Dresden, Germany, confirming efficiency and robust performance.

• First strategic Offtake Letter of Intent signed with Schwarze Pumpe Industrial Park Association for 30MWh per annum over five years, supporting transition from coal to renewables.

• $8.9 million capital raised via entitlement offer and placement, partially underwritten by major shareholder MAA Group Berhad, to fund CERENERGYⓇ and Silumina Anodes™ projects.

Financial highlights

• Cash and cash equivalents at quarter end: $5.56 million, up from $2.12 million in the previous quarter.

• Net cash used in operating activities: $(1.20) million for the quarter.

• Net cash used in investing activities: $(1.69) million, including $1.13 million for CERENERGYⓇ battery R&D.

• Net cash from financing activities: $6.37 million, mainly from equity issuance.

• Market capitalization at quarter end: $65.0 million; share price: $0.038.

Outlook and guidance

• CERENERGYⓇ prototype testing to continue, providing critical data for offtake and financing discussions.

• GridPack deliveries to Schwarze Pumpe expected to commence mid-2027 or upon plant readiness.

• Funds raised will support further prototype fabrication, plant finance, and Silumina Anodes™ pilot plant commissioning.