AnteoTech Signs Collaboration, Sales Agreement Term Sheet With South Korean Separator Technology Firm; Shares Near Three-Year High
MT Newswires Live
May 26
AnteoTech (ASX:ADO) signed a collaboration and sales agreement term sheet with South Korean separator technology firm Xerabrid, according to a Tuesday filing with the Australian bourse.
The company's Anteo S cross-linking separator product will be combined with Xerabrid's ceramic coated separator technology in the formulation, development, testing and delivery of customer sales support across next generation battery separators to improve battery safety, the filing said.
The two parties are expected to finalize a comprehensive three-year agreement within 120 days, per the filing.
Financial terms of the deal were not disclosed.
AnteoTech shares rose nearly 38% in morning trade Tuesday and earlier reached their highest since June 2023.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.