$558 million investment project will create and maintain thousands of jobs in Canada
SAGUENAY, QC, May 10, 2018 /CNW/ - Global aluminum industry leaders Alcoa Corporation and Rio Tinto Aluminum today announced a revolutionary process to make aluminum that produces oxygen and eliminates all greenhouse gas emissions from the traditional smelting process.
The announcement signals the most significant innovation in the aluminum industry in more than a century, and marks a decisive step forward in the fight against climate change.
To advance the larger scale development and commercialization of the new process, Alcoa and Rio Tinto have formed a joint venture, Elysis. The new joint venture will pursue a $558 million two-phased project.
The Prime Minister, Justin Trudeau, announced an investment of $60 million in support of Elysis. The Premier of Quebec, Philippe Couillard, announced that the Government of Quebec will contribute a matching investment, and become a limited partner in the company. Apple will also provide an investment of $13 million to the first phase of the project, and has agreed to provide technical support to Elysis.
This new company, which will be headquartered in Quebec, will directly employ 100 people, and has the potential to create more than 1,000 jobs by 2030, while securing 10,500 existing aluminum jobs in Canada.
Elysis will further develop the technology so it can be licensed for retrofit at existing smelters or used to design and build new facilities. Development to commercialize the process will take place in the Saguenay?Lac-Saint-Jean region of Quebec, where Elysis will establish a world-class facility.
Once fully developed and implemented, the ground-breaking technology will virtually eliminate the Canadian aluminum industry's carbon footprint, and help strengthen the already well-integrated Canada-United States aluminum and manufacturing industry.
The technology has the potential to significantly reduce the country's carbon footprint over the next decade, helping Canada reach its commitments under the Paris Agreement.
Quotes
"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."
?The Rt. Honourable Justin Trudeau, Prime Minister of Canada
"The aluminum industry is part of the DNA of Saguenay?Lac-Saint-Jean and all of Québec. It is why our government decided to become a partner in one of the most innovative and unique projects in the world. Throughout the project Québec expertise, knowhow and talent will shine here and throughout the world. Additionally, we have set ambitious targets in our Québec strategy to develop the aluminum sector in order to stimulate industrial expansion and strengthen its competitiveness in the world market. Together, we have provided the means to be hopeful for the future. Together, we are building a new Québec that is more prosperous, knowledgeable, equitable, green and mobile."
? Philippe Couillard, Premier of Quebec, Minister Responsible for the Saguenay?Lac-Saint-Jean Region, and Member of the National Assembly for Roberval
"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."
? Roy Harvey, Alcoa President and CEO
"This is a revolutionary smelting process that can deliver a significant reduction in carbon emissions. It builds on the key role aluminum 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."
? J-S Jacques, Rio Tinto Chief Executive
"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
Associated Links
This document is also available at http://pm.gc.ca
SOURCE Prime Minister's Office
These press releases may also interest you
|