Grants and Contributions:
Title:
Decarbonization and Product Diversification Pathways
Agreement Number:
819662
Agreement Value:
$222,000,000.00
Agreement Date:
Dec 17, 2021 - Mar 31, 2030
Description:
This project will increase RTFT's production of critical minerals that will go into products like electric vehicles and batteries. Their BlueSmelting initiative, a new technology for carbon-neutral ilmenite extraction, could generate 95% less GHG emission than their current process enabling the production of high-grade titanium dioxide feedstock, steel, and metal powders with a drastically reduced carbon footprint.
Organization:
Innovation, Science and Economic Development Canada
Expected Results:
The investment aims to cut GHG emissions from RTFT's plant by up to 50%. This will enhance the public-private collaboration via the creation of a new incubator and help position Canada as a leader in critical minerals
Location:
Sorel-Tracy, Quebec, CA J3R1M7
Reference Number:
033-2023-2024-Q1-819662
Agreement Type:
Other transfer payment
Report Type:
Grants and Contributions
Recipient Business Number:
890267776
Recipient Type:
For-profit organization
Additional Information:
This is a partially repayable contribution
Recipient's Operating Name:
RTFT
Recipient's Legal Name:
Rio Tinto Fer et Titane Inc. (RTFT)
Federal Riding Name:
Bécancour--Nicolet--Saurel
Federal Riding Number:
24009
Program:
SIF Stream3- Attraction
Program Purpose:
-Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes and services;-Facilitate the growth and expansion of firms in Canada;-Attract and retain large scale investments to Canada; and-Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.
NAICS Code:
339900