Altech Chemicals Limited (AU:ATC) has released an update.
Altech Batteries Limited has announced an invitation for shareholders to invest in their Share Purchase Plan to support the promising CERENERGY® battery project, following a successful Definitive Feasibility Study. The project, poised to build on land in Germany, promises to deliver significant economic benefits, including a rapid payback period of 3.7 years and an impressive IRR of 19%. The company aims to tap into the rapidly growing grid storage market, which is expected to expand at a 28% CAGR as the world transitions to renewable energy.
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