Altech Batteries (ASX:ATC) has received conditional binding funding approval of €46.1 million for its CERENERGY Sodium-Chloride Solid-State Battery Project in Saxony, Germany, marking a major milestone toward the construction of a planned 120 MWh battery manufacturing facility.
The funding, provided under Germany's federal STARK program supported by the Federal Ministry for Economic Affairs and Energy in cooperation with the EU, covers approximately 30% of eligible investment costs and significantly de-risks the project's capital structure.
The STARK initiative aims to guide regions undergoing structural change toward ecologically, economically, and socially sustainable futures.
The CERENERGY technology, developed in collaboration with the Fraunhofer Society, offers a safe and sustainable alternative to lithium-ion batteries, with the potential to play a key role in Europe’s stationary energy storage market.