Highlights
- Altech Batteries has engaged CICERO to assess the green credentials of its CERENERGY® batteries.
- A study showed CERENERGY® has superior environmental footprint and performance, in comparison to lithium-ion batteries.
- Altech expects to issue its first ESG report in the next quarter.
Specialty battery technology company Altech Batteries Ltd (ASX: ATC) has announced that it is seeking a green accreditation from CICERO (Centre of International Climate and Environmental Research) for its CERENERGY® battery project.
CICERO is known for offering independent evaluations for green credentials, especially in the green bond market.
Earlier, the company sought CICERO’s accreditation for the Silumina AnodesTM project, securing “Medium Green” rating.
A study undertaken by the Sustainable Technologies Laboratory at the Bochum University of Applied Sciences observed that the GHG footprint of CERENERGY® batteries is at least 50% lower than lithium-ion batteries (based on life cycle assessment).
Source: Company update
Stock performance
ATC stock was trading at AU$0.091 at the time of writing on 11 July 2023, up more than 1% from the last close. Including today’s gain, the share price has increased by 13.75% on a year-to-date basis and marked a gain of 51.67% in the past one year.
CERENERGY® exhibits superior environmental performance and footprint
A study was undertaken to assess the ecological implications of various battery types. The key parameter of the study was GHG.
Study Outcomes (data source: company update)
ESG reporting program
The ESG reporting program has commenced in line with the World Economic Forum’s Stakeholder Capitalism Metrics ESG Framework. The program aims to highlight the initiatives undertaken by Altech and on-the-ground efforts.
As highlighted by Altech, many of the ESG metrics were already in place and just required to be represented in a visible framework.
The first ESG report can be expected in the coming quarter.
About CERENERGY® batteries
CERENERGY® batteries are introduced as an alternative to lithium-ion batteries. These batteries have a life span of over 15 years. They can operate in utmost desert and cold climates and are fire and explosion proof. The technology uses sodium-chloride (common table salt) and does not use lithium, cobalt, copper, and graphite; therefore, it is not exposed to an increase in the price of critical metals.
Under a joint venture agreement with Fraunhofer IKTS, Altech intends to commercialise the battery by building a 100MWh production facility in Saxony, Germany.