- Altech Chemicals (ATC) receives green status for its battery materials coating plant project in Saxony, Germany
- The status was awarded by the independent Centre of International Climate and Environmental Research (CICERO) in Norway
- This status means that the project would be suitable for future green bond financing
- The proposed plant is being designed to focus on minimising environmental impact and will be in line with the German, European and International environmental standards
- On the market today, Altech is in the grey and trading at 10.5 cents per share
Altech Chemicals (ATC) has received green status for its battery materials coating plant project in Saxony, Germany.
The status was awarded by the independent Centre of International Climate and Environmental Research (CICERO) in Norway.
Last month, CICERO was engaged by Altech’s subsidiary, Altech Industries Germany (AIG), to conduct an independent evaluation of the proposed battery materials coating plant.
The proposed plant is being designed to focus on minimising environmental impact and will be in line with the German, European and International environmental standards.
CICERO has now completed that review and labelled it ‘Medium Green’. This means that the project would be suitable for future green bond financing.
Although CICERO knows the project is still in the development phase, in assessing
governance and transparency considerations, it has encouraged Altech “to implement and enforce a robust supply chain sustainability policy, as well as to engage with its suppliers to address their sustainability impacts”, given that over 90 per cent of the plant carbon footprint is attributable to plant feedstock such as graphite and silicon.
“CICERO’s independent assessment of AIG’s proposed battery materials coating plant, and its suitability for possible future green bond financing, is an important inclusion for the current preliminary feasibility study — and it certainly adds credibility to this proposed project,” Altech’s Managing Director Iggy Tan said.
“The PFS continues to progress, and Altech anticipates that the results will be available to it during the first quarter of 2022.”
On the market today, Altech was in the grey and trading at 10.5 cents per share at 12:27 AEDT.