$4m ARENA Grant Project to deliver Generation 2 Ultra High Silicon Anode

AnteoTech is pleased to announce that the Company has executed a funding agreement with the Australian Renewable Energy Agency (ARENA) for grant funding of ~$4 million under the Advancing Renewables Program.

ASX Announcement >>                 ARENA Media Release >>                       ARENA Project Page >>

Joint Media Release >>
The Hon Chris Bowen MP, Minister for Climate Change and Energy
The Hon Ed Husic MP, Minister for Science and Industry

Key Points

• $3.99 million Grant awarded to AnteoTech under the ARENA Advancing Renewables Program
• Funding towards a three-year Project to develop and commercialise a proprietary Generation 2 Ultra High Silicon Anode – targeting stationary storage markets and ultra-high performance electric vehicles
• Expands current capability and technology to produce battery anode capable of >1000 cycles at 80% capacity retention for large scale energy storage systems
• Expansion of Brisbane production facility including new manufacturing equipment
• Grant followed extensive diligence process and independent technical analysis by ARENA
• Second non-dilutive funding grant achieved this year – total $5.4m grants committed

AnteoTech, with the assistance of the ARENA funding, will now undertake a three-year project, with defined milestones. The ARENA funding will be used to fund new capital items to enhance the Company’s capability and capacity and include the design and construction and expansion of AnteoTech’s Brisbane facility to accommodate a small-scale industrial roll-to-roll (R2R) coating line, capable of mirroring conditions found in industrial and commercial like manufacturing settings. Further stages will include completion of design enhancements and testing; scale up processes and equipment; followed by validation. The final stages will include engagement with partners for testing and market validation with the goal to then secure commercial agreements and licenses with end customers. Given the strategic alignment of the project with the Company’s objectives, the Company will allocate the cost of existing Clean Energy Technology resources and capabilities to deliver the target outcomes of the project.

An initial technical objective is to enhance the Generation 1 prototype, currently under development through the QLD Critical Minerals Battery Technology Fund, by creating a Generation 2 version. This new prototype will exceed the current target of 1,000 cycles at 80% capacity retention, meeting the rigorous demands of ultra-high-performance applications, hybrid and electric vehicles, large-scale battery storage systems deployed across Australia and globally.