Altech Announces Excellent Definitive Feasibility Study for 120 MWh First Production Line CERENERGY® Battery Project

DFS Highlights:

• Highly positive Definitive Feasibility Study (DFS) – 120 GridPacks (1MWh) pa
• Capital cost estimated at €156 million with excellent project economics
• Pre-tax Net Present Value (NPV9) of €169 million
• Attractive Internal Rate of Return (IRR) of 19%
• Steady state payback period is 3.7 years, with Annual Revenue of €106 million per annum
• EBITDA of €51 million or margin of around 47%
• Altech Board Decision to Proceed to Funding Phase
• Low lifetime levelised cost of storage €0.06/kWh vs lithium-ion batteries at €0.149/kWh
• Grid energy storage market projected to grow by 28% CAGR
• Grant funding applications underway
• Equity and mezzanine financing discussions in progress
• Offtake for 5 years production in progress