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BUSINESS - COMPANY NEWS

The world's first carbon-free aluminum smelting process was introduced by Rio Tinto and Alcoa

Thursday, May 10, 2018

World’s first carbon free aluminium (CNW Group/Rio Tinto)

World’s first carbon free aluminium (CNW Group/Rio Tinto)

BUSINESS - COMPANY NEWS

by Mehmet Kaplan

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This new technology will end emission of greenhouse gas from the aluminum process produced using conventional methods.

With this revolutionary process change, the production of greenhouse gases in aluminum production will come to an end.

Rio Tinto and Alcoa introduced a new partnership initiative, Elysis. With this initiative, it is planned to start the sales process with this new technology starting from 2024.

Alcoa, Rio Tinto, Apple, the Canadian Government and the Quebec Government are cooperating to invest $ 188 million (CAD) for this project.

Rio Tinto has appointed Vincent Christ as Chief Executive Officer to the Elysis project.

The governments of Canada and Quebec each supported $ 60 million (CAD) of the Elysis project.

Apple supported the process of establishing a partnership between Rio Tinto and Alcoa with $ 13 million (CAD). In addition, Apple decided to provide technical support to the JV partners.

Rio Tinto and Alcoa will invest $ 55 million (CAD) in the project over the next three years. This investment will cover the protection of patent rights and the patents of the project.