Altech Batteries (ASX:ATC) has engaged the Centre of International Climate and Environmental Research (CICERO) to evaluate the green credentials of its CERENERGY Battery Project in Germany.
The $128.40 million market capitalisation company says CICERO will undertake an external assessment of its environmental credentials.
Commenting on the accreditation of the CERENERGY Battery Project, Altech Batteries Managing Director Iggy Tan says: “There is clearly an environmental advantage of the CERENERGY battery and proposed factory.
“Considering the GHG footprint evaluation conducted by independent groups, we anticipated from the outset that our batteries would be classified as ‘green batteries’”
Considering the GHG footprint evaluation conducted by independent groups, we anticipated from the outset that our batteries would be classified as ‘green batteries’. We are currently in the official accreditation process.”
Located in Saxony, Germany, the planned CERENERGY battery plant has a capacity of 100 megawatt-hours (MWh) and has been designed to minimise its greenhouse gas footprint by leveraging renewable energy sources.
Altech says the entire factory will refrain from natural gas usage, with all heating systems within the plant being designed for renewable electrical heating.
The site’s total power requirement is about 5 MWh, and negotiations are currently underway to lock in a renewable power supply for the facility.
The World Economic Forum’s Stakeholder Capitalism Metrics environmental, social and governance (ESG) Framework has been initiated into Altech’s reporting process, utilising Socialsuite’s ESG platform.
Altech reports the aim of this reporting process is to demonstrate the existing on-the-ground efforts and initiatives conducted by the company. The first report is anticipated to be issued within the next quarter.
Altech Batteries is a specialty battery technology company focused on the production of its CERENERGY batteries, which are an alternative to lithium-ion batteries.
CERENERGY batteries are fire and explosion-proof and have a lifespan of more than 15 years. The batteries operate in extreme cold and desert climates and are lithium-, cobalt-, and copper-free, therefore eliminating exposure to critical metal price rises and supply chain concerns.
Write to Aaliyah Rogan at Mining.com.au
Images: Altech Batteries Ltd
