Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance
• Supply Chain

Environmental Achievements

• Awarded a carbon reduced organisation status from Carbon Footprint Ltd
• Maintained ISO 14001:2015 certification
• All electricity from renewable sources
• 10% of employees participated in Green Travel initiatives

Social Achievements

• Appointed Jason Stewart as CFO in January 2023
• Increased patent portfolio to 67 granted patents, with 8 new grants in the reporting period. 4 additional international filings submitted.
• 95% of managers have attended management training
• 30% of managers are trained in mental health awareness
• Employee engagement program including National Walking Month

Governance Achievements

• Established an ESG Committee with Board-level leadership
• Performed its first materiality assessment
• Maintained ISO 9001:2015 certification
• Expanded the risk management role and appointed a Sustainability, Quality and Business Compliance Director

Climate Goals & Targets

Environmental Challenges

• Inflationary pressures across the supply chain due to the war in Ukraine
• Competition from competitors who may develop more advanced and less expensive alternative technology platforms
• Reliance on a small number of significant customers, partners and grant funding bodies

Mitigation Strategies

• Early interaction with Cirtec and outsourcing activity to mitigate UK energy market impact
• Continually assessing competitive technologies and competitors; commercialisation through multiple channels; commercialisation milestones in partner agreements
• Broadening the number of customers and partners; leveraging IP and resources over multiple projects; applying for Research and Development tax credits

Supply Chain Management

Responsible Procurement

• Ethical Supply Chain Programme
• Battery Passport system
• Cobalt suppliers provide full transparency of their supply chain ensuring conflict mineral compliance
• Cathode material supply is supported by leading producers who are fully aligned with our principles as well as being participants in the Global Battery Alliance

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Stereax miniature solid state batteries
• Goliath large-format cells

Awards & Recognition

• Green Economy Classification and Mark from the London Stock Exchange Group

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Social Responsibility
• Corporate Governance

Environmental Achievements

• Achieved carbon reduced organisation status in 2024.
• Switched to renewable electricity suppliers for main sites.
• Reduced market-based emissions year-on-year.
• Partnered with an organisation to recycle cobalt waste.
• Implemented a sustainable travel policy in 2024.
• 0% waste to landfill.

Social Achievements

• Launched a Development and Opportunities Framework, linking with Company values, autonomy, relatedness and competence supporting team development and progression, alongside strategic and succession planning.
• Appointed new VP Product Development from within.
• Committed to providing 2 additional qualified mental health first aiders, bringing the total to 4.
• Expanded mental health awareness training for managers to 65%.
• Offered all employees private medical insurance (91% uptake).
• Ran its first virtual triathlon.

Governance Achievements

• Refreshed materiality matrix and established an ESG Framework.
• Added climate-related risks into risk register.
• Renewed ISO 9001 and ISO 14001 certifications.
• ESG Framework achieved a 96% completion score.
• Zero compliance concerns, reports or complaints occurred in 2024.
• All managers attended IOSH Managing Safely training.

Climate Goals & Targets

Environmental Challenges

• Competition from competitors developing more advanced and less expensive alternative technology platforms.
• Reliance on a small number of significant customers, partners and grant funding bodies.
• Risk that intellectual property rights may not be adequately secured or defended.
• Risk of intellectual property becoming obsolete.
• Dependence on senior management and key staff.
• Inflationary pressures across the supply chain due to geopolitical conflicts.
• Changing regulatory requirements impacting development and implementation of products.
• Potential impact of changing environmental, social and governance factors on materials and supply chains.

Mitigation Strategies

• Continuously assessing competitive technologies and competitors; commercialising batteries through multiple channels; ensuring commercialisation milestones in partner agreements.
• Broadening the number of customers and partners; leveraging IP and resources over multiple projects; applying for research and development tax credits.
• Contracting specialist patent agents and attorneys.
• Offering appropriate incentives to staff; creating a good working environment.
• Proactive approach to ESG matters; sourcing from appropriate supply chain partners; engaging industry experts for advice and support; monitoring and reviewing risk registers.

Supply Chain Management

Supplier Audits: 95% goods in recyclable packaging; 100% conflict mineral compliance; commenced supplier onsite inspections.

Responsible Procurement

• Ethical Supply Chain Programme; compliance and human rights prioritised; sustainable practices; conflict mineral compliance; sourcing from companies with transparent supply chains; seeking new suppliers in jurisdictions with high legislative and ethical requirements.

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

• Stereax and Goliath solid state batteries.

Awards & Recognition

• Carbon reduced organisation status