BUZZ-ASX-listed Altech Batteries rises on battery supply contract with Axsol

Reuters

2024/12/18

** ASX-listed shares of Altech Batteries ATC.AX rise as much as 11.6% to A$0.048, their biggest one-day pct gain since Nov. 11

** Energy storage firm signs third off-take agreement with Germany-based Axsol to supply sodium chloride solid-state battery grid packs

** Deal includes initial offtake of 10MWh, escalating to 30MWh in later years, with potential rise to 120MWh

** Says it enables co to enter the defence-related market segment as Axsol is a certified supplier to NATO

** Including session's gains, stock trims YTD loss to ~30%

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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