Rio Tinto has announced a $150 million investment into the new Rio Tinto Centre for Future Materials, which will seek innovative ways to supply the materials required for the global energy transition efforts.
The Rio Tinto Centre for Future Materials, led by Imperial College London, will fund research programs to revolutionise the way critical materials are produced, used, and recycled, making them more environmentally, economically, and socially sustainable.
Rio Tinto and Imperial will outline significant global concerns that must be tackled as part of the collaboration. These will serve as the foundation for the Centre’s initial research activities, which will be carried out in collaboration with several international academic institutions.
The Centre will be established in the second half of 2023, with the first research programs funded in 2024. Rio Tinto will invest $150 million to the Centre over a 10-year period.
“For the world to reach net zero, we must find better ways to provide the materials it needs. No single player can do this alone, and research and development plays a vital role. Imperial College London is one of the world’s leading institutions focused on science and engineering – I cannot wait to see the progress we make, as we bring together the best of industry and academia, with shared ambition,” Rio Tinto CEO Jakob Stausholm said.
Imperial Vice Provost (Research and Enterprise) Professor Mary Ryan commented, “All aspects of human society rely on materials – from housing to transport, energy, communications and health. We need to create sustainable ways to extract, process, and reuse these resources.”
“Moving to a truly sustainable society requires a holistic approach to these complex industrial processes. This is inherent to Imperial’s approach. We will tackle these challenges and design future innovations that are resource and energy efficient, nature positive, humancentric and just. By working hand-in-hand with other leading international institutions, we will create a truly multidisciplinary, global effort to drive the next industrial revolution in harmony with nature,” Professor Ryan said.
The $150 million investment comes during Rio Tinto’s 150th anniversary year. It will be distributed in 10 annual instalments. It will finance research that will enable diverse, interdisciplinary teams to produce new and transformative solutions with the environment, society, and governance at the Centre.
The Centre will complement an Innovation Advisory Committee of international experts in their fields that Rio Tinto recently formed to advance its innovation portfolio and provide external insights and assistance on emerging and disruptive technologies.
