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Canada, Apple back development of carbon-free aluminum smelting tech

  • Written by AFP
  • Published in Business
  • Read: 782

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.