Altech Batteries Limited (Altech/the Company) (ASX: ATC) is pleased to announce that it has appointed global corporate advisory firm KPMG to assist in securing finance to construct the 120MWh CERENERGY® battery plant in Germany. This follows the recent announcement of the Definitive Feasibility Study in relation to the project. KPMG will be financial adviser to the Company on potential financing transactions and provide service on public grant/subsidies programs. Altech is moving forward to obtain sales offtake for the project and sourcing finance to construct the plant.
Highlights
- International advisory firm KPMG appointed to act as finance advisors
- Financing of the 120MWh CERENERGY® battery project in Germany
- KPMG has a global presence with advisory experts in 143 countries
- KPMG will assist in global outreach for CERENERGY® battery project finance
- All financing options to be considered
- Including project equity, green bonds, grants and subsidies
Commenting on the appointment, Altech’s Chief Financial Officer Martin Stein stated “Altech has battery technology in CERENERGY® that has the potential to be revolutionary as the world transitions to a renewable energy future. Altech has the worldwide rights to manufacture, license and distribute the battery globally. In appointing KPMG with its global network, strong reputation and credibility, Altech believes that KPMG will greatly assist with the financing process for its 120MWh CERENERGY® battery plant in Germany and will strengthen Altech’s position in securing the finance required”.
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