- A revolutionary process to make aluminum produces oxygen and replaces all direct greenhouse gas emissions from the traditional aluminum smelting process.
- Alcoa and Rio Tinto launch new joint venture, Elysis, for larger scale development and commercialization of the process, with a technology package planned for sale beginning in 2024.
- Alcoa, Rio Tinto, the Government of Canada, the Government of Quebec and Apple agree to provide a combined investment of $188 million (CAD).
- Apple helped facilitate the collaboration between Alcoa and Rio Tinto on the carbon-free smelting process, and has agreed to provide technical support to the JV partners.
- Technology represents the culmination of decades’ worth of research and development. Elysis will have access to a host of patents and intellectual property.
- Rio Tinto’s Vincent Christ named Chief Executive Officer of Elysis.
Alcoa Corporation (NYSE: AA) and Rio Tinto (NYSE: RIO) today announced a
revolutionary process to make aluminum that produces oxygen and
eliminates all direct greenhouse gas emissions from the traditional
smelting process.
Executives of Alcoa, Rio Tinto and Apple were joined by Canadian Prime
Minister Justin Trudeau and Premier of Québec Philippe Couillard for the
announcement, which signals the most significant innovation in the
aluminium industry in more than a century.
To advance larger scale development and commercialization of the new
process, Alcoa and Rio Tinto are forming Elysis, a joint venture company
to further develop the new process with a technology package planned for
sale beginning in 2024.
Elysis, which will be headquartered in Montreal with a research facility
in Quebec’s Saguenay–Lac-Saint-Jean region, will develop and license the
technology so it can be used to retrofit existing smelters or build new
facilities.
When fully developed and implemented, it will eliminate direct
greenhouse gas emissions from the smelting process and strengthen the
closely integrated Canada-United States aluminum and manufacturing
industry. The new joint venture company will also sell proprietary anode
and cathode materials, which will last more than 30 times longer than
traditional components.
Canada and Quebec are each investing $60 million (CAD) in Elysis. The
provincial government of Quebec will have a 3.5 percent equity stake in
the joint venture with the remaining ownership split evenly between
Alcoa and Rio Tinto.
Apple is providing an investment of $13 million (CAD). The company
helped facilitate the collaboration between Alcoa and Rio Tinto on the
carbon-free smelting process, and Apple has agreed to provide technical
support to the JV partners.
Alcoa and Rio Tinto will invest $55 million (CAD) cash over the next
three years and contribute specific intellectual property and patents.
The patent-protected technology, developed by Alcoa, is currently
producing metal at the Alcoa Technical Center, near Pittsburgh in the
United States, where the process has been operating at different scales
since 2009. The joint venture intends to invest up to $40 million (CAD)
in the United States, which would include funding to support the supply
chain for the proprietary anode and cathode materials.
Vincent Christ, an experienced leader with more than 30 years’
experience at Rio Tinto Aluminium, has been named Chief Executive
Officer of Elysis. Most recently, he has served as head of technology,
research and development and automation programs. He holds an
engineering degree in electronics and industrial information technology.
Quotes:
“This discovery has been long sought in the aluminum industry, and this
announcement is the culmination of the work from many dedicated Alcoa
employees. Today, our history of innovation continues as we take
aluminum’s sustainable advantage to a new level with the potential to
improve the carbon footprint of a range of products from cars to
consumer electronics.”
Alcoa President and CEO Roy Harvey
“This is a revolutionary smelting process that can deliver a significant
reduction in carbon emissions. It builds on the key role aluminium has
to play in driving human progress, by making products infinitely
recyclable, stronger, lighter and more fuel efficient. Rio Tinto is
proud to work with Alcoa, Apple and the governments of Canada and
Quebec, to drive an innovation that can transform the industry and our
customers’ supply chains.”
Rio Tinto chief executive J-S Jacques
“Today’s announcement will create and maintain thousands of jobs for
Canadians, significantly reduce Canada’s carbon footprint, and further
strengthen the aluminum industry in North America. It is a truly
historic day for the aluminum industry – and for all Canadian aluminum
workers – who play such an important role in our economy and our
country’s future.”
Prime Minister of Canada Justin Trudeau
“With the establishment of this new facility, Québec will continue to
lead the world in the development of advanced aluminium smelting
technologies. Our investment will play a key role in the large scale
development of this carbon-free aluminium smelting technology, so it can
be deployed and deliver significant environmental benefits with well
paid, highly skilled jobs here in Québec.”
Premier of Québec
Philippe Couillard
“Apple is committed to advancing technologies that are good for the
planet and help protect it for generations to come. We are proud to be
part of this ambitious new project, and look forward to one day being
able to use aluminum produced without direct greenhouse gas emissions in
the manufacturing of our products.”
Tim Cook, Apple CEO
Quick Facts about Elysis
-
Our name refers to the process at the center of aluminum smelting, the
electrolysis of alumina. It’s a tribute to our history, but it
indicates a fundamental change that will be known as the Elysis
process.
-
Elysis will directly employ 100 people, including research and
development, management and sales.
-
At the Elysis facility in Québec, employees will work on the
commercialization of the world’s first zero-carbon aluminum smelting
technology.
-
In Canada, the technology could eliminate the equivalent of 6.5
million metric tonnes of greenhouse gas emissions, if fully
implemented at existing aluminum smelters in the country. That
represents an amount roughly equal to taking nearly 1.8 million
light-duty vehicles off the road.
About Alcoa
Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina, and
aluminum products, and is built on a foundation of strong values and
operating excellence dating back nearly 130 years to the world-changing
discovery that made aluminum an affordable and vital part of modern
life. Since developing the aluminum industry, and throughout our
history, our talented Alcoans have followed on with breakthrough
innovations and best practices that have led to efficiency, safety,
sustainability, and stronger communities wherever we operate. Visit us
online on www.alcoa.com,
follow @Alcoa on Twitter, and on Facebook at www.facebook.com/Alcoa.
Dissemination of Company Information
Alcoa Corporation intends to make future announcements regarding company
developments and financial performance through its website at www.alcoa.com.