Altech Batteries’ (ASX: ATC) new board of directors has outlined its strategy to reset the company for the commercialisation of its core CERENERGY sodium chloride solid state battery and Silumina Anodes technologies.
The change in management follows a determination by majority shareholder Altech Advanced Materials AG — which holds a combined 28% interest with ++Deutsche Balaton Group++ — that the previous business strategy was unlikely to achieve commercial outcomes within a suitable timeframe.
Specifically, it identified that Altech had made insufficient progress on project financing for the technology platforms, despite achieving advanced feasibility work and a strong underlying technical validation.
Accelerating Commercialisation
The refreshed team — comprising chief executive officer Daniel Raihani, non-executive chair Joe Graziano, and non-executive director Hansjoerg Plaggemars — will replace managing director Iggy Tan, chair Daniel Tenardi, and non-executive directors Tunku Yaacob Khyra and Peter Bailey, who tendered their immediate resignations.
The new board will focus on accelerating commercialisation pathways for the CERENERGY and Silumina Anodes projects, based on collaborative development models with established battery manufacturers, industrial technology groups, chemicals producers, or government-supported programs.
It aims to secure one or more qualified strategic partners which can contribute capital, technical resources, and market access to advance the projects towards commercial reality.
The board will also reassess the strategic rationale and economic merit of a recent distribution arrangement for sodium-nickel-chloride UPS (uninterruptible power supply) batteries produced by global energy solutions company AMPower.
While the technology is expected to provide Altech with a near-term revenue optionality, the board has considered the need for a focused capital allocation model.
Reaching Full Potential
Mr Raihani said the new management line-up would take the actions required to ensure the CERENERGY and Silumina Anodes assets reach their full commercial potential.
“The reality is that these projects demand disciplined execution, robust partnerships, and a level of financial and technical resourcing that cannot be delivered through incremental steps or half-measures,” he said.
“This strategic reset reflects an honest appraisal of where Altech stands today and the actions needed to move forward with credibility—we must focus our capital, sharpen our priorities, and align the company with partners capable of advancing large-scale industrial technology.”
Mr Raihani will lead a strategic review of Altech’s non-core assets and business activities to to streamline the corporate footprint, reduce expenditure, and unlock value.
This will include the Meckering kaolin project in Western Australia, the Johor industrial landholding in Malaysia, and all ancillary corporate structures and cost centres.
