This popup is rather worrying, and it’s easy to understand why somebody would not wish to provide Energy Ring this sort of gain access to.
Energy Ring’s designer IJP states in the app’s description on Google Play that “Energy Ring does not check out any Alert whatsoever, it simply depends on it to be alive. Be guaranteed that the App does NOT gain access to anything.”
It’s tough to inform how reliable a little, third-party designer like IJP really is. If it deserves anything, the popular XDA-Developers website mentions IJP (or “jagan2” as he’s understood on the website) as a “acknowledged designer.” It may not be a main statement of credibility, however I extremely question that XDA-Developers would promote a designer or app that jeopardizes your security.
If you’re comfy with XDA-Developers’ support and IJP’s claims that the Energy Ring app does not access your alerts, you can tap “Permit” on the popup.