Altech Batteries (ASX: ATC) has executed an exclusive distribution agreement with German renewable energy company Axsol for its Cerenergy GridPack battery system.
The parties have agreed on a price per GridPack and minimum purchase targets have been set at 10 megawatt-hours in 2027, 20MWh in 2028, and 30MWh annually from 2029 to 2031.
The deal is the third offtake agreement secured this year covering the first five years of Cerenergy battery production.
Altech will also collaborate with Axsol on the development of a multi-system battery management system.
The company will leverage its expertise and know-how in the efficient management and integration of various battery technologies with multiple energy supply sources using its advanced energy management system, AKOS.
With future battery energy storage systems expected to incorporate multiple technologies tailored for different applications, smart integration is essential to ensure reliable and cost-effective operation.
As a certified supplier to the North Atlantic Treaty Organisation (NATO) and select Western allied forces, Axsol will be able to streamline qualification procedures and enable early market entry and sales of Cerenergy batteries to the industry.
“We are delighted to have secured such a competent partner in Axsol, which enables our Cerenergy GridPacks to enter the highly attractive defence-related market segment,” Altech chair Iggy Tan said.
“Axsol’s strong interest highlights the unique advantages of our sodium-chloride solid-state battery technology and the exceptional unique selling points we bring to the market.”
The Axsol offtake agreement follows a maiden letter of intent signed in September between Altech and German organisation Zweckverband Industriepark Schwarze Pumpe for 30MWh of energy storage capacity annually over five years.
Altech secured a second offtake deal with Referenzkraftwerk Lausitz in November for up to 158MWh in the first year of production, followed by 32MWh per year for another four years.
Deliveries to Axsol should begin in 2027 following the commissioning of Altech’s sodium-chloride solid-state battery production plant in Germany.
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