Altech Chemicals and Iggy Tan: Paving The Way For Future Electronics
Altech Chemicals filed a patent with IP Australia in 2021 for its anode coating technology process which involves top purity alumina. The Company has also placed the final touches on its pilot plant design in Schwarze Pumpe Industrial Park, Saxony, where its 75% owned subsidiary Altech Industries Germany GmbH (AIG), will be producing a high-end battery-grade anode material coated with HPA chemical processing technology.
The Company announced that the pilot plant will be installed in the Schwarze Pumpe Dock 3 facility, neighbouring AIG’s 14Ha industrial site at the Park. The plant design is proposed to develop 10,000 tonnes per annum of anode grade graphite, using Altech’s alumina coating technology, which is the subject of a preliminary feasibility study (PFS).
ALTECH’S PROJECT FUNDING
Driving its global expansion, Altech raised its chief funding by securing ECA funding from German government-owned KfW-IPEX bank in 2017, to approve a USD 190 million project debt facility.
The Company also has an EPC contract with SMS Group, a private German metals processing company. Offering input on the EPC acquisition in 2018, CEO Iggy Tan said, “A lot of European and German investors do not have the mandate to invest in Australian companies. They love the HPA project, and this way they can invest in the German entity-a separate listed German vehicle and get exposure to the high purity alumina market”.
The SMS Group has completed stage-1 and stage-2 construction at the Malaysian HPA plant site, funded by Altech’s balance sheet. The group has also guaranteed plant performance following preset product quality and volume specifications. SMS holds a total USD 15 million equity position in Altech. Over the years, Altech Chemicals has also secured a total of USD 40.9 M through three rounds of private funding placements from 2017 to 2021.
