Just the Facts: Altech Batteries secures first offtake with ZISP
Proactive’s Tylah Tully breaks down ‘Just the Facts’ of Altech Batteries Ltd (ASX:ATC, OTC:ALTHF) latest ASX announcement.
It has secured its first offtake letter of intent (LOI), advancing the commercialisation of its CER-ENERGY® GridPack Battery Energy Storage System (BESS). The LOI has been signed with Zweckverband Industriepark Schwarze Pumpe (ZISP), which manages infrastructure and energy requirements for the industrial park. ZISP has committed to purchasing 30 megawatt-hours of energy storage capacity annually over five years, starting in 2027.
The agreement involves one megawatt-hour GridPacks, with pricing based on Altech's definitive feasibility study assumptions. Key terms include a five-year purchase commitment, with options for additional volumes, and a partnership to further develop scalable energy solutions. The LOI aligns with ZISP’s transition from coal to renewable energy, integrating wind, solar, and Altech’s CER-ENERGY® BESS for consistent power supply.
Battery deliveries are scheduled to begin by mid-2027, subject to performance tests and meeting specifications. Altech highlights this LOI as a major milestone, reflecting the growing demand for innovative energy storage as industries move toward 100% renewable energy sources. The company views this agreement as further validation of its technology’s commercial potential.
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