Altech Batteries (ASX:ATC) secured binding conditional funding approval of 46.1 million euros for the CERENERGY battery project in Germany, according to a Tuesday filing with the Australian bourse.
The funding is being granted under the federal STARK program, supported by the German Federal Ministry for Economic Affairs and Energy in cooperation with the EU, and covers about 30% of the eligible investment costs, the filing said.
Shares rose 4% in midday trade on Tuesday.
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