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2 clusters · 2 sources · 4 days · First seen · Last updated

Altech CERENERGY project termination and liquidation

Overview

Altech Advanced Materials AG has initiated the liquidation of its subsidiary, Altech Batteries GmbH, following the termination of the CERENERGY project. The project, which focused on producing ceramic solid-state batteries for stationary power grids at the Schwarze Pumpe Industrial Park, was halted due to insufficient secured financing. As part of the winding-down process, Altech is selling the land acquired for the plant back to the municipality of Spreetal for 675,000 euros.

The failure of the project reportedly followed the refusal of a debt waiver by the Fraunhofer Institute for Ceramic Technologies and Systems (IKTS), which held a 25 percent stake in the venture. Consequently, Altech Batteries GmbH is facing insolvency and plans to file for bankruptcy. Amidst this restructuring, Enapter AG has proposed the re-election of Eva Katheder to its supervisory board; Katheder is a member of the supervisory board at Altech Advanced Materials AG.

Entities

Altech Advanced Materials AG · CERENERGY · Enapter AG · Altech Batteries GmbH · Fraunhofer Institute for Ceramic Technologies and Systems

Timeline

  1. 20 days ago

    [BUSINESS] 2 sources
    Enapter proposes Eva Katheder re-election amid Altech CERENERGY crisis

    Enapter AG proposes re-electing Eva Katheder to its board amid Altech's withdrawal from the CERENERGY battery project and the impending insolvency of its German subsidiary.

  2. 23 days ago

    [BUSINESS] 2 sources
    Altech initiates liquidation of Altech Batteries GmbH

    Altech Advanced Materials AG has begun liquidating its subsidiary, Altech Batteries GmbH, after halting its CERENERGY solid-state battery project in Germany due to lack of financing.

Sources

ad-hoc-news.de · it-boltwise.de