Rio Tinto $RIO (+0,51%) and Hydro will join forces to identify and evaluate available carbon capture technologies for future use in the aluminum electrolysis process. The companies have signed a partnership agreement to share certain information, results and costs for specific R&D activities, ranging from laboratory testing with external suppliers to larger on-site pilot projects, with the aim of creating an improved supply of commercially viable carbon capture technologies from relevant suppliers.
Together, the partners plan to invest approximately $45 million over five years in this initiative, with the majority of the work to be carried out at Rio Tinto's facilities in Europe and Hydro's facilities in Norway. Beyond this collaboration, both companies will continue to undertake significant decarbonization efforts independently.
Anode consumption during the electrolysis process is responsible for around three quarters of a smelter's direct CO2 emissions. For several years, scientists from Rio Tinto and Hydro have been researching various carbon capture technologies as complementary solutions to help both companies achieve their climate targets. This is complemented by the development and expansion of carbon-free aluminum smelting technologies such as Hydro's HalZero technology and Rio Tinto's participation in the ELYSIS joint venture.
Rio Tinto CEO Jakob Stausholm said: "Rio Tinto is committed to achieving net zero emissions from our operations by 2050 and we recognize that a portfolio of solutions is required to achieve our climate targets. By working with Hydro to evaluate specific carbon capture technologies for aluminum smelters, we are finding better ways to leverage our complementary networks and R&D capabilities to address the climate change challenge."