Rio Tinto and Aymium are collaborating to create and test a renewable biocarbon product as a potential alternative to reduce emissions in large-scale industrial processes.
Rio Tinto’s metallurgical complex in Sorel-Tracy has successfully tested the product as a replacement for anthracite in ilmenite smelting processes, a leading producer of high-grade titanium dioxide feedstock and iron and steel.
Rio Tinto has increased its equity stake in Aymium following its participation in a financing round in 2022, further strengthening the collaboration. The second investment is part of Rio Tinto’s support for the technologies required to reach the company’s 2030 emission reduction targets and deliver lower-carbon supply chains.
The parties will now collaborate on options for large-scale production of a biocarbon product.
“We are delighted to work with Aymium to develop and trial this renewable biocarbon product that has real potential as an alternative, low carbon resource for our processes. We are investing to deepen our partnership, as part our commitment to finding better ways to decarbonise our operations and the supply chains we are part of,” Rio Tinto Minerals Chief Executive Sinead Kaufman said.
“Our mission is to accelerate the transition away from fossil fuels and minimize our environmental impact. We are delighted about Rio Tinto’s follow-on investment as it will further advance our global mission to create bioproducts with enhanced performance and achieve ambitious emissions reduction targets,” Aymium CEO James Mennel commented.
The funds from this investment will be used to advance the development of Aymium’s new production facilities in North America and support their R&D projects.
