Australia's Altech Batteries gain on announcing suppliers for JV in Germany

Altech Batteries

03/07/2023 03:37

** Shares of Australia's Altech Batteries  ATC.AX  rise as
much as 3.5% to A$0.09, eyeing their best day since June 21, if
current gains hold
    ** The battery materials tech firm says it has selected
suppliers to advance its CERENERGY battery joint venture with
Fraunhofer IKTS in Saxony, Germany
    ** Stock hits highest since June 22
    ** Co says German co Gustav Eirich GmbH is the supplier of
ceramic mixing systems for the site, while Frey Systeme GmbH
will be the supplier of the isostatic machines
    ** Says battery connections will be supplied by German
connector plate supplier, Hofer Powertrain GmbH, while battery
casing will be supplied by König Metall GmbH
    ** Says JV is in the design stage of planning, with all of
the plant's designs set to use high automation and robotics to
increase output
    ** Stock up 10.1% YTD as of last close 
    


 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))