Altech Chemicals Limited has announced that the preparations for the listed green bonds offering of $144 million, which will provide financial support for the company’s Malaysian High Purity Alumina (HPA) project, has now moved into its final stages. The project is expected to produce a 49% lower carbon footprint in comparison to conventional HPA.
The company has been working alongside the London based structuring agent, Bedford Row Capital PLC (Bedford Row) and Bluemount Capital (WA) Pty Ltd (Bluemount), to prepare for the green bond offering.
Green bonds are being used to finance new and existing projects, which deliver environmental benefits and a more sustainable economy. Altech announced, on 20 May 2020, that the independent Centre of International Climate had assessed their HPA project as a “green” project and Environmental Research (CICERO) based in Oslo, Norway. Compared to conventional HPA processing, Altech’s disruptive HPA production technology is estimated to deliver a ~49% reduction in the comparable carbon footprint, and use ~41% less energy. The primary end-use for Altech’s HPA is also targeted for climate change products, such as LEDs lights and lithium-ion batteries.
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