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Altech Batteries sells non-core land for $950K, retains mining rights, boosting working capital.

Company Fundamentals
29 Jun 2026
Proactive Investors - Finance
View Source
Bullish
pluang ai news

Altech Batteries has sold its non-core land in Meckering, Western Australia, for $950,000, adding fresh working capital to the company. Despite the sale, Altech retains mining lease rights through an agreement with the new landowner, ensuring ongoing access to the asset. The transaction also involved discharging a mortgage held by major shareholder Deutsche Balaton AG, with a $500,000 bank guarantee linked to bearer bonds due in October 2026. Altech is also seeking to sell land in Malaysia to repay these bonds. The company focuses on next-generation battery technology, including a joint venture to commercialize sodium chloride solid-state batteries in Germany.

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