Altech Chemicals Ltd (ASX:ATC) Termination of Controlled Placement Agreement
FRA:A3Y) is pleased to announce that it has now completed a final utilisation of its Controlled Placement Agreement (CPA) with Acuity Capital (Acuity) and has by mutual agreement with Acuity terminated the CPA, effective immediately.
Altech will receive $2.25 million from the offset of all remaining collateral shares (39,266,667) that Acuity was otherwise required to return to the Company upon maturity or early termination of the CPA. The collateral shares were originally issued to Acuity in February 2020, when the CPA was established. The Company also confirms that it and Acuity have been release from any and all obligations under the CPA.
Altech Chemicals Ltd (ASX:ATC) Battery Materials HPA Coating Plant PFS Commenced
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Altech Chemicals Ltd (ATC AX) Breakthrough Silicon Alumina Coating Development
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Altech Chemicals Ltd (ASX:ATC) Breakthrough Silicon Alumina Coating Development
FRA:A3Y) is pleased to announce the successful application of its alumina nano layer coating technology to the coating of silicon particles, typical of those used in anode applications within lithium-ion batteries.
The successful application of Altech s technology to coat silicon particles follows its 22 December 2020, announcement where the Company provided details of its success in the alumina nano layer coating of graphite particles typical of those used in a lithium-ion battery.
Extending the application of the technology to the coating of silicon particles is a significant breakthrough for Altech, especially in the context of a recent public statement of US electric vehicle manufacturer Tesla, that its aim is to increase the amount of silicon in its batteries to achieve step-change improvements in energy density and battery life. Silicon has a significant advantage over graphite for use