Alcoa Explores Technology at – GuruFocus.com



Alcoa Corporation (NYSE: AA) today announced a development project with the potential to significantly reduce carbon emissions in the alumina refining process, which would further enhance the company’s strong sustainability performance. throughout the aluminum value chain.

The Australian Renewable Energy Agency (ARENA) has awarded Australia’s Alcoa $ 8.8 million (AU $ 11.3 million) to test the potential use of renewable energy in a process known as recompression steam mechanics (MVR). Alcoa of Australia is currently carrying out technical and commercial studies to adapt MVR technology for refining. Electricity produced from renewable energy would power compressors to turn residual steam into steam, which would then be used to provide heat for the refinery process.

If the feasibility studies are successful, Alcoa of Australia plans to install, by the end of 2023, a three megawatt MVR module with renewable energy at the Wagerup refinery in Western Australia to test the technology on a large scale.

Already, Alcoa is the world’s lowest carbon intensity alumina producer, and the application of MVR, if successful, would be an important step forward in reducing greenhouse gas emissions. said Eugenio Azevedo, Alcoas vice president for continuous improvement. The use of lower carbon alumina in the smelting process will also reduce the overall carbon footprint of the metal, taking into account the indirect and direct emissions from bauxite mining, alumina refining and aluminum smelting and casting.

MVR technology powered by renewable energy could reduce the carbon footprint of an alumina refinery by 70%. The technology also has the potential to significantly reduce the use of water in the refining process by capturing water vapor that would otherwise be lost to the atmosphere.

Alcoa of Australia has filed provisional patent applications in Australia for the use of MVR technology in the alumina refining process. Patent applications cover a variety of MVR applications in refinery modernization and upgrade scenarios.

The development project aligns with Alcoas’ strategic priority to progress in a sustainable manner. Today, Alcoas’ global refining system has the lowest average carbon intensity in the industry, and Alcoa is the only company to supply a low carbon alumina brand, EcoSource.TMMarketed as part of the Companys SustanaTM product line, EcoSource has no more than 0.6 metric tons of carbon dioxide equivalents for every ton of foundry alumina produced, which is better than the industry’s 90 percent.

About Alcoa

Alcoa (NYSE: AA) is a global leader in the bauxite, alumina and aluminum products industry, with a strong portfolio of value-added cast and rolled products and significant energy assets. Alcoa is built on a foundation of strong values ​​and operational excellence dating back 135 years after the discovery that changed the world and made aluminum an affordable and vital part of modern life. Since the invention of the aluminum industry and throughout our history, our talented Alcoans have continued with ground-breaking innovations and best practices that have led to efficiency, safety, sustainability and more communities. strong wherever we operate. Visit us online at www.alcoa.com, follow @Alcoa on Twitter and on Facebook at www.facebook.com/Alcoa.

About Alcoa of Australia

Alcoa of Australia is owned by Alcoa World Alumina and Chemicals (AWAC), an unincorporated global joint venture between Alcoa Corporation and Alumina Limited which consists of a number of affiliated entities that own, operate or have an interest in mines bauxite and alumina refineries, as well as an aluminum smelter, in seven countries. Alcoa Corporation owns 60% of AWAC and Alumina Limited owns 40%.

Dissemination of company information

Alcoa Corporation intends to make future announcements regarding business developments and financial performance through its website at www.alcoa.com, as well as through press releases, Securities and Exchange Commission filings, conference calls and webcasts.

Forward-looking statements

This press release contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing terms as anticipated , believes, could, estimates, expects, foresees, objective, intends, may, prospects, plans, projects, seeks, sees, should, target, will, would, or other words with similar meaning. All statements of Alcoa Corporation that reflect expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and changes in circumstances that are difficult to predict. Although Alcoa Corporation believes that the expectations reflected in forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be achieved and it is possible that actual results may differ materially from those indicated by these forward-looking statements. . due to various risks and uncertainties. Additional information regarding factors that could cause actual results to differ materially from those projected in forward-looking statements is contained in the documents filed by Alcoa Corporations with the Securities and Exchange Commission. Alcoa Corporation disclaims any obligation to publicly update forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.

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See the source version on businesswire.com: https://www.businesswire.com/news/home/20210520005591/en/



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