MONTREAL (AFP) - Canada and Quebec province, as well as tech giant Apple, announced Thursday their backing of aluminum producers Alcoa and Rio Tinto's new joint venture to develop a carbon-free smelting process.
Prime Minister Justin Trudeau made the announcement with executives of the three companies on hand.
Apple is investing Can$13 million (US$10 million) in the joint venture, and will provide technical support.
Rio and Alcoa are investing Can$55 million (US$43 million), while the Canadian and Quebec governments will each invest Can$60 million (US$47 million) in a first round of financing.
The technology promises to be "the most significant innovation in the aluminum industry in more than a century, and marks a decisive step forward in the fight against climate change," said a statement.