SD Tech Fund Awards $12M for Clean Magnesium Production Technology
Canadian companies are continuing to develop innovative products and processes to solve environmental challenges. Quebec-based Alliance Magnesium is one of these innovative companies and has recently been awarded clean technology grants for their environmentally friendly mining project. The company has created a clean magnesium technology in efforts to position itself as an emerging global leader in clean technology solutions for the mining sector.
Through the Sustainable Development Technology Canada SD Tech Fund, Alliance Magnesium is the recipient of $12,000,000 in Canadian government funding for their innovative magnesium production process.
Sustainable Development Technology Canada’s SD Tech Fund supports the development and demonstration of innovative clean technologies. Projects that are well-aligned for environmental grants through the SD Tech Fund should have the ability to improve energy efficiency and reduce greenhouse gas (GHG) emissions. Only large-scale technology development or early-stage commercialization projects are eligible for funding.
SD Tech Fund Awards Alliance Magnesium $12M in Cleantech Grants
Alliance Magnesium, headquartered out of Brossard, Quebec, is engaging in the production of metallic magnesium and other valuable minerals from serpentine. The company has developed an innovative clean technology and process that represents a cleaner and less expensive solution than those currently used by magnesium producers in international markets.
Alliance has developed and patented a revolutionary technology based on an electrolytic clean-tech approach to the processing of magnesium contained in serpentine rock. The method expands on current energy-intensive methods used worldwide by magnesium producers which, from an economic and environmental standpoint, are no longer acceptable.
The company has received $12M in Canadian government funding from Sustainable Development Technology Canada’s SD Tech Fund.
In August 2018, Alliance was awarded government funding for their First Commercial Phase at its facility in Danville, Quebec. Building on the success of the pilot plant in Quebec, Alliance Magnesium will now use the SD Tech Fund clean technology grants to support the second phase of clean magnesium production technology demonstration. The innovative process involves recycling the tailings from mining activity to produce magnesium metal.
As the demand for magnesium metal increases in industries such as automotive manufacturing, the investment will help safeguard and position Alliance Magnesium to become an international leader in clean technology solutions for the mining sector, while reducing greenhouse gases (GHG) in the light metal alloy and transportation sectors. Environmental grants from the SD Tech Fund will also secure the creation of 70 direct jobs within the company.
About Sustainable Development Technology Canada’s SD Tech Fund
The SD Tech Fund is a Canadian government funding program administered by Sustainable Development Technology Canada (SDTC). The program supports pre-commercial projects that have the potential to demonstrate significant and computable environmental and economic benefits in one or more of the following areas: clean air, climate change, clean soil, and clean water.
Canadian cleantech innovators can receive up to 33% of eligible project expenses with a total maximum funding contribution of $15,000,000 in cleantech grants.
To get started with the SD Tech Fund, Canadian technology developers must complete a multi-stage application process with Sustainable Development Technology Canada (SDTC). The SD Tech Fund accepts applications on a continuous basis, with approvals throughout the year.
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