The venture involves combining silicon particles that had been treated with Altech's patented alumina coating technology, with alumina coated battery grade graphite, producing a "Silumina Anodes" product.

According to Altech, this product could take the place of conventional graphite anode materials in lithium-ion batteries because it has greater energy retention capacity.

Previously silicon wasn't in the mix because despite having about 10-times the energy retention capacity, it had other negative issues precluding its use.

Late last year Altech claimed to have "cracked the silicon code".

Altech used graphite price forecasts in its preliminary feasibility modelling.

Meanwhile, financing the circa $300 million Johor high purity alumina project in Malaysia is said to remain the Altech's priority.

However, this has to date proved to a difficult task given a positive final investment decision was made in October 2017.

Altech's last funding round was in November in 2021 when A$10.3 million was raised pricing new shares at 10.7c each.

Shares in Altech were up 31.5% to 10c in afternoon trade, capitalising the company at $139 million.

The stock was at levels above 20c in late 2017.