Alcoa Corporation (NYSE: AA) has announced significant advancements in ELYSIS technology in collaboration with Rio Tinto, aiming to launch the first industrial-scale demonstration of the technology. ELYSIS is a revolutionary technology that eliminates all greenhouse gas emissions from the traditional smelting process, while producing oxygen as a byproduct. This technology partnership was established in 2018 between Alcoa and Rio Tinto, building on technology initially developed at the Alcoa Technical Center (ATC) in Pittsburgh.
Rio Tinto’s demonstration project will take place at Arvida in Quebec, involving 10 ELYSIS smelting pots operating at 100 kiloamperes (kA), similar in size to those in smaller-scale commercial smelters. Alcoa has the option to purchase up to 40 percent of the metal produced from the demonstration at Arvida, allowing their customers to benefit from the carbon-free electrolytic process of ELYSIS early in the technology’s development cycle. The target for the first production using this technology is set for 2027.
CEO Bill Oplinger stated, “Since the invention of the aluminum smelting process in 1886, which is still widely used today, Alcoa has been dedicated to creating transformative technologies to enhance our industry. We are excited to be advancing the technology developed at our technical center through the ELYSIS partnership. Aluminum plays a crucial role in the global energy transition and decarbonization efforts, and with ELYSIS technology, the smelting process for this important metal can be achieved without direct carbon emissions.”
On Friday, shares of AA increased by $1.08, or 2.8%, opening at $39.90. This demonstrates the positive market response to