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Investissement Québec is taking part in the largest innovation project in the aluminum industry

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Investissement Québec

Investissement Québec is becoming the minority shareholder of Elysis, a joint venture created by Rio Tinto and Alcoa. In fact, the aluminum industry’s two global leaders are launching the world's first carbon emissions-free aluminum manufacturing process. This is the most significant innovation in the aluminum industry in over a century and a decisive step in the fight against climate change.

The goal of Elysis is to develop and market this new process on a large scale. The new joint venture will complete a $558 million project in two phases. Alcoa, Rio Tinto, the government of Canada, the government of Québec and Apple have agreed to provide a combined investment.

This aluminum electrolysis technology produces oxygen and eliminates all direct greenhouse gas (GHG) emissions generated by the conventional electrolysis process. This new business, which will have its head office in Montréal, will directly employ 100 people and could create more than 1,000 jobs by 2030, while maintaining 10,500 existing jobs in the aluminum industry in Canada.

The Fasken team, led by Carl Tremblay and made up of Anne-Marie Naud, Claude Girard, Sébastien Roy, Valérie Brouillette, Serge Lapointe, Geneviève Laliberté, Charles-Antoine Dorion, Dalya Fazel, Dany Fillion, Olivier Fortier, Sonia Girard, Vincent Laforest-Lapointe and Philippe Beauchamp, advised Investissement Québec in the creation of a joint venture with the companies Alcoa, Rio Tinto Alcan and Apple and the Government of Canada as part of the Elysis project.



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