Altech initiates liquidation of Altech Batteries GmbH

Altech Advanced Materials AG has initiated the liquidation of its subsidiary, Altech Batteries GmbH, following the termination of the CERENERGY project. The project, which aimed to produce ceramic solid-state batteries for stationary power grids, was located at the Schwarze Pumpe Industrial Park in the Lausitz region.

The decision to halt development stems from insufficient secured financing, making continued operations economically unviable for the company. The cessation of the project also impacts the Fraunhofer Institute for Ceramic Technologies and Systems (IKTS), which held a 25 percent stake in the venture.

As part of the winding-down process, Altech is selling back the land acquired for the battery plant to the municipality of Spreetal for 675,000 euros.