Altech Batteries (ASX: ATC) says its unique CERENERGY has been assessed as one, if not the greenest, battery technology available today, with the lowest carbon foodprint.
The CERENERGY battery project has been formally assessed as the highest possible green rating category, “Dark Green”, by the independent Centre of International Climate and Environmental Research (former CICERO), now owned by Standard and Poor’s Global Ratings based in Oslo, Norway.
Altech says CERENERGY has been rated as “Corresponding to the long-term vision of a Low-Carbon Climate Resilient future” by S&P Global Ratings.
Eligible projects under the issuer’s green bond framework are assessed based on their environmental benefits and risks, using Shades of Green methodology.
S&P assessed the project category as Dark Green, primarily reflecting the importance of battery storage in the transition of the power and industrial sectors, the contribution to the development of alternatives to lithium-ion and cobalt-free batteries, and the CERENERGY battery’s comparatively low expected emissions and fossil-free direct production process.
The CERENERGY battery is a solid state, sodium chloride battery. While lithium-based batteries are expected to continue as the dominant battery technology going forward, sodium-based batteries are anticipated to play an increasing role, particularly in the stationary storage market. In the IEA’s STEPS scenario, for example, sodium-based batteries account for around 10% of annual capacity additions by 2030.
Shifts to sodium-based batteries are expected because they require no critical mineral/metal inputs such as lithium, graphite, copper or cobalt. The primary materials in the CERENERGY battery are sodium, alumina, and (recycled) nickel derivatives. Nonetheless, solid state, sodium-based batteries remain an emerging technology, with less extensive academic literature into their environmental performance compared with lithium-based equivalents.
Managing Director Iggy Tan said that the positive project assessment, formally termed a “Second Party Opinion” (SPO), confirms that Altech’s CERENERGY project aligns to ICMA Green Bond Criteria and is of a type suitable for finance via green bonds.
“The project can now be accessed by investors that participate in the green bond market, the size of which is approaching US$250 billion annually and a large portion of which is present in Europe. The CERENERGY® project’s green shading score does not affect bond pricing, rather it provides a transparent mechanism by which green bond investors are able to categorise their investment in terms of climate risks and impacts. We are very proud of achieving this significant milestone” he said.
