Altech Batteries (ATC) Q4 2024 TU earnings summary

Executive summary

• CERENERGYⓇ ABS60 Battery Pack prototype fabrication advanced, with all cells and Cell Contacting System completed and welding underway.

• Improved cell electrode design delivered higher-than-expected energy capacity and reduced nickel content.

• KPMG appointed as financial adviser to secure funding for the 120MWh CERENERGYⓇ battery plant in Germany.

• Share Purchase Plan closed, raising $3.72 million, with shares and options issued in May 2024.

Financial highlights

• Cash and cash equivalents at 30 June 2024 were $2.1 million.

• Net cash used in operating activities for the quarter was $2.58 million; year-to-date $11.41 million.

• Net cash used in investing activities for the quarter was $3.42 million; year-to-date $13.66 million.

• Net cash from financing activities for the quarter was $4.77 million; year-to-date $23.63 million.

• Share Purchase Plan proceeds totaled $3.72 million, with 57.2 million shares issued at $0.065 per share.

Outlook and guidance

• CERENERGYⓇ ABS60 Battery Pack prototype to be completed and available for customer testing and demonstration.

• Focus on securing offtake agreements and finance for the 120MWh CERENERGYⓇ battery plant.

• Funds from SPP to support CERENERGYⓇ battery project and Silumina Anodes™ pilot plant commissioning.

• Company expects to continue operations and meet objectives, with ability to raise further capital if required.