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Altech Chemicals appoints Norwegian-based CICERO to conduct independent determination

The Centre of International Climate and Environmental Research (CICERO) is associated with the University of Oslo in Norway.

Altech Chemicals Ltd - Altech Chemicals appoints Norwegian-based CICERO to conduct independent determination
Altech intends to produce HPA to prouduce synthetic sapphire and to be used in lithium-ion batteries for electric vehicles

Altech Chemicals Ltd (ASX:ATC) has been advised by Frankfurt Stock Exchange-listed Altech Advanced Materials AG (FRA: AMA1) (AAM) that it has appointed the Centre of International Climate and Environmental Research (CICERO) to complete an independent determination.

The determination will state that Altech’s high purity alumina (HPA) project supports a low-carbon and climate-resilient future.

CICERO’s determination is formally termed a Second Opinion, which is 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.

The centre 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.

Engagement agreement

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 March 12.

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 of LEDs, and used in lithium-ion batteries required for electric vehicles.

46% less greenhouse gas per tonne

In February, 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.

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