Altech Batteries (ATC) H2 2024 earnings summary

Executive summary

• Advanced two flagship projects: CERENERGY® Sodium Chloride Solid State Battery and Silumina Anodes™ battery materials, both targeting the European market.

• Completed Definitive Feasibility Studies (DFS) for both projects, showing strong economics and market potential.

• Secured a Letter of Intent for the first CERENERGY® GridPack offtake and completed a significant capital raise post-year-end.

Financial highlights

• Revenue for FY24 was $256,766, down from $296,456 in FY23.

• Net loss after tax was $32.3 million, a significant improvement from the $61.8 million loss in FY23.

• Cash and cash equivalents at year-end were $2.1 million, down from $3.6 million in the prior year.

• Net assets decreased to $22.6 million from $33.9 million year-over-year.

Outlook and guidance

• Focus on securing offtake agreements and financing for the 120MWh CERENERGY® battery plant in Saxony, Germany.

• Continued development and commercialisation of Silumina Anodes™ with pilot plant commissioning and customer qualification underway.

• Ongoing R&D to further improve Silumina Anodes™ battery capacity retention.