Altech Batteries (ASX:ATC) said it is in the process of shortlisting potential lenders for its CERENERGY sodium-chloride solid-state battery project in Saxony, Germany, according to a filing with the Australian bourse.
In June, the company appointed a funding adviser to secure finance for constructing the CERENERGY battery manufacturing plant in Germany, the Friday filing said.
The battery technology company has completed its first round of debt engagement, receiving positive feedback from ten commercial banks and two venture debt funds, the filing said.
Altech Batteries also plans to divest a minority stake in the project, targeting strategic investors such as utility groups and corporations involved in the green energy transition who can bring capital and strategic value to the project.
Non-disclosure agreements have been signed, and term sheets circulated with potential investors, the filing added.
The company now plans to advance the discussion with potential lenders into formal commitments.
Altech Batteries' shares rose almost 9% on market close.
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