Altech Batteries Ltd Stock Market Press Releases and Company Profile
Independent Assessment of HPA Project's Green Credentials
Independent Assessment of HPA Project's Green Credentials

Perth, Mar 18, 2020 AEST (ABN Newswire) - Altech Chemicals Limited (googlechartASX:ATC) (googlechartA3Y:FRA) is pleased to announce that it has been advised by Frankfurt Stock Exchange listed Altech Advanced Materials AG (googlechartAMA1:FRA) (AAM), that AAM has recently appointed the Centre of International Climate and Environmental Research (CICERO) associated with the University of Oslo (Norway), to complete an independent determination that Altech's high purity alumina (HPA) project supports a low-carbon and climate resilient future - i.e. confirmation of the projects green credentials (refer ASX announcement of 28 February 2020 for details).

CICERO's determination is formally termed a Second Opinion. A Second Opinions is typically valued by ethical investors, such as those seeking to equity invest, or lend, to projects that are deemed environmentally friendly, reduce emissions and/or support a lower carbon society. CICERO is one of the world's leading providers of independent, research based evaluations, and for a third year running in 2019 CICERO received an award for being the best provider of external assessments for the green bond market.

As announced on 30 January 2020, an engagement agreement has been executed between AAM and a Swiss international investment bank to act as Placement Agent in relation to the issuance of equity or other equity instruments (securities) by AAM via private placement. This is scheduled to follow the re-introduction of the rights offer to AAM shareholders that was approved at a meeting of its shareholders on 12 March 2020. A positive Second Opinion for Altech's HPA project would potentially enhance the project's suitability for the large pool of European green investor funds, such as those that may participate in the green bond market for example.

Altech intends to produce HPA to be used for the production of synthetic sapphire for the manufacturing LEDs, and used in lithium-ion batteries required for electric vehicles. On 28 February 2020, the Company published results from its detailed "mine to gate" study that compared the greenhouse gas emissions and energy consumption of Altech's disruptive single step kaolin - HPA production method, to the incumbent bauxite - refinery - smelter - alkoxide HPA production process. The results of the study were that Altech's kaolin-alumina process was estimated to release 46% less greenhouse gas per tonne of HPA compared to the alkoxide process. In addition, Altech's HPA production process was estimated to reduce energy consumption by 41% per tonne of HPA.

The Company's process plant in Malaysia is designed to international environmental standards and to satisfy the Equator Principles for lenders, as is required by senior lender - German government owned KfW IPEX-Bank.


About Altech Batteries Ltd

Altech Chemical Ltd ASX:ATCAltech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns. 

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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Contact

Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com



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