Join our daily newsletter At The Bell to receive exclusive market insights
- Sunrise Energy Metals (SRL), formerly known as Clean TeQ, is continuing to advance the development of its Sunrise Battery Materials Complex
- During the most recent quarter, SRL completed a study which confirmed the availability and cost of renewable energy to supply the external power requirements for the project
- The proposal eliminates around one third of the project’s total carbon emissions and positions Sunrise as one of the world’s largest battery metals producers designed to run on 100 per cent renewable power
- Over the first 25 years of operation, the change is estimated to reduce carbon dioxide emissions by 4.6 million tonnes, which is equivalent to taking over one million internal combustion engine cars off the road for a year
- On the market this morning, SRL is up 1.70 per cent and is trading at $2.39 per share
Sunrise Energy Metals (SRL), formerly known as Clean TeQ, is continuing to advance the development of its Sunrise Battery Materials Complex.
Sunrise is a nickel, cobalt and scandium project located in New South Wales, which will use the company’s metal recovering technology, Clean-iX.
According to the company, the project has the potential to meet a significant portion of global demand for the raw materials needed in the lithium-ion battery industry.
Additionally, the project will also produce scandium, a key ingredient in the next generation of lightweight aluminium alloys.
During the most recent quarter, SRL completed a study which confirmed the availability and cost of renewable energy to supply the external power requirements for the Sunrise Project.
Notably, the proposal eliminates around one third of the project’s total carbon emissions and positions Sunrise as one of the world’s largest battery metals producers designed to run on 100 per cent renewable power.
Over the first 25 years of operation, the change is estimated to reduce carbon dioxide emissions by 4.6 million tonnes. This is equivalent to taking more than one million internal combustion engine cars off the road for a year.
It will also lower Sunrise’s estimated carbon intensity, giving it one of the lowest carbon footprints for battery-grade nickel production in the world.
Last week, SRL agreed to purchase the Hylea Project in the Lachlan Fold Belt in NSW, expanding its presence in the state.
Hylea is around 50 kilometres north of the Sunrise Project and shows similar structural geology as Sunrise.
Clean TeQ Water
SRL’s water business, Clean TeQ, delivers cost effective water treatment solutions to the municipal, industrial and mining sectors.
The technologies are designed to cope with the most demanding waters and provide best-in-class performance in water recovery and operability.
During the March quarter, the company won three water treatment contracts in Queensland, Oman and China.
In Queensland, Clean TeQ was awarded a contract valued over $2 million by the Mackay Regional Council for the upgrade of a bore water treatment plant at Koumala, near Mackay.
In early January, the company was awarded a contract to undertake the detailed design for an upgrade of the existing DESALX technology plant in Oman.
And lastly, in China, Clean TeQ was awarded a contract to design, procure, deliver and install a BIONEX water treatment plant to a coal mine in Inner Mongolia.
On the market this morning, SRL is up 1.70 per cent and is trading at $2.39 per share at 11:42 am AEST.
