Feds announce $20M investment in ELYSIS Limited Partnership
by CM Staff
ELYSIS will directly employ 100 people through this project, and it has the potential to create more than 1,000 jobs by 2030, while securing 10,500 existing aluminum jobs in Canada.
ALMA — On June 29, François-Philippe Champagne, Minister of Innovation, Science and Industry, announced a $20-million investment in ELYSIS Limited Partnership, a joint venture launched in 2018 by Alcoa and Rio Tinto. This investment supports a $644-million project from ELYSIS, including investments in research and development. ELYSIS will directly employ 100 people through this project, and it has the potential to create more than 1,000 jobs by 2030, while securing 10,500 existing aluminum jobs in Canada. Furthermore, a total of 10 co-op students will work under this initiative.
This investment builds on the $60-million contribution announced in 2018. This new contribution will help ELYSIS develop local manufacturing supply chains, as well as further the research and commercialization of its technology. This contribution aims to secure important economic benefits for communities, as local companies will co-develop and supply specialized equipment for ELYSIS’ work to lower the industry’s carbon footprint and improve the efficiency of its operations.
Once fully developed and implemented at Canadian aluminum smelters, ELYSIS’ technology would almost eliminate the Canadian aluminum industry’s smelting carbon footprint, eliminating as much as 7 million tonnes of carbon emissions per year, which represents 1% of Canada’s overall greenhouse gas (GHG) emissions. As Canadian, North American and global manufacturers transition toward green supply chains, this investment will leverage Canada’s growing reputation as a reliable and secure supplier of aluminum. The investment strengthens local manufacturing capabilities, integrating local workers and supply chains in the shift toward a greener and more resilient aluminum industry in Canada.
This project aligns with the Government of Canada’s strengthened climate plan that will help Canada achieve its economic and environmental goals.