Alcoa Joins First Suppliers Hub - Connecting Leading Companies with Low-Carbon Aluminum Technologies
Alcoa Corporation (NYSE:AA, ASX: AAI)) today announced that it has joined the World Economic Forum's First Suppliers Hub, a global repository of innovative suppliers providing materials needed to support the ambition of industrial decarbonization in the world by 2050.
First Suppliers Hub is a database of global final product and value chain suppliers created by the First Movers Coalition; both the First Movers Coalition (FMC) and First Suppliers Hub are within the World Economic Forum. Members of FMC set a target that at least 10 percent of their annual primary aluminum procurement volumes meet or exceed the Coalition's definition for low-carbon primary aluminum. FMC defines low-carbon as below 3 tonnes CO2e per ton of primary aluminum on a cradle-to-gate basis. First Suppliers Hub simplifies First Movers Coalition members' aim to leverage their purchasing power by sharing emerging decarbonization technologies that meet or exceed FMC's low-carbon levels.
"Alcoa's breakthrough technologies support our customers' decarbonization efforts now and into the future," said Renato Bacchi, Executive Vice President and Chief Commercial Officer at Alcoa. "By joining the First Suppliers Hub, we are further simplifying options for end-users at some of the world's leading companies to reduce emissions within their supply chains.
"With ELYSIS®, we are capable of producing aluminum using an innovative carbon-free smelting process. Alcoa is working to bring our customers – and the world – closer to a lower carbon future."
ELYSIS uses proprietary inert anode technology to eliminate all direct greenhouse gas emissions from the aluminum smelting process, making it possible to produce aluminum meeting the FMC definition when paired with renewable power to the smelter and low-carbon alumina. Alcoa and its ELYSIS technology partnership recently announced the next step in developing this technology with an industrial-scale demonstration project that will provide Alcoa with an offtake of ELYSIS material to help meet customer needs for more sustainable solutions.
While ELYSIS offers an exciting future, Alcoa has a portfolio of products available today to help customers reduce their carbon footprint.
Alcoa also offers its Sustana® line of products that includes:
- EcoLum® aluminum that has a carbon footprint one-third the global industry average;
- EcoSource® alumina produced from a refining portfolio that has an average emissions intensity that is less than half of the industry average; and
- EcoDura® aluminum produced with at least 50 percent recycled content.
For more information on Alcoa's commitment to a low-carbon future, including how Alcoa's global smelting portfolio is 87 percent powered by renewable energy, visit our Sustainability web page at https://www.alcoa.com/sustainability.
About Alcoa Corporation
Alcoa (NYSE:AA, ASX: AAI)) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people and courageous leadership, our purpose is to Turn Raw Potential into Real Progress. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater efficiency, safety, sustainability and stronger communities wherever we operate.
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This news 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 such words as "aims," "ambition," "anticipates," "believes," "could," "develop," "endeavors," "estimates," "expects," "forecasts," "goal," "intends," "may," "outlook," "potential," "plans," "projects," "reach," "seeks," "sees," "should," "strive," "targets," "will," "working," "would," or other words of similar meaning. All statements by Alcoa that reflect expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding forecasts concerning global demand growth for bauxite, alumina, and aluminum, and supply/demand balances; statements, projections or forecasts of future or targeted financial results, or operating performance (including our ability to execute on strategies related to environmental, social and governance matters); statements about strategies, outlook, and business and financial prospects; and statements about capital allocation and return of capital. These statements reflect beliefs and assumptions that are based on Alcoa's perception of historical trends, current conditions, and expected future developments, as well as other factors that management believes are appropriate in the circumstances.
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 any forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Such risks and uncertainties include, but are not limited to: (1) the impact of global economic conditions on the aluminum industry and aluminum end-use markets; (2) volatility and declines in aluminum and alumina demand and pricing, including global, regional, and product-specific prices, or significant changes in production costs which are linked to London Metal Exchange (LME) or other commodities; (3) the disruption of market-driven balancing of global aluminum supply and demand by non-market forces; (4) competitive and complex conditions in global markets; (5) our ability to obtain, maintain, or renew permits or approvals necessary for our mining operations; (6) rising energy costs and interruptions or uncertainty in energy supplies; (7) unfavorable changes in the cost, quality, or availability of raw materials or other key inputs, or by disruptions in the supply chain; (8) our ability to execute on our strategy to be a lower cost, competitive, and integrated aluminum production business and to realize the anticipated benefits from announced plans, programs, initiatives relating to our portfolio, capital investments, and developing technologies; (9) our ability to integrate and achieve intended results from joint ventures, other strategic alliances, and strategic business transactions, including the recent acquisition of Alumina Limited; (10) economic, political, and social conditions, including the impact of trade policies and adverse industry publicity; (11) fluctuations in foreign currency exchange rates and interest rates, inflation and other economic factors in the countries in which we operate; (12) changes in tax laws or exposure to additional tax liabilities; (13) global competition within and beyond the aluminum industry; (14) our ability to obtain or maintain adequate insurance coverage; (15) disruptions in the global economy caused by ongoing regional conflicts; (16) legal proceedings, investigations, or changes in foreign and/or U.S. federal, state, or local laws, regulations, or policies; (17) climate change, climate change legislation or regulations, and efforts to reduce emissions and build operational resilience to extreme weather conditions; (18) our ability to achieve our strategies or expectations relating to environmental, social, and governance considerations; (19) claims, costs, and liabilities related to health, safety and environmental laws, regulations, and other requirements in the jurisdictions in which we operate; (20) liabilities resulting from impoundment structures, which could impact the environment or cause exposure to hazardous substances or other damage; (21) our ability to fund capital expenditures; (22) deterioration in our credit profile or increases in interest rates; (23) restrictions on our current and future operations due to our indebtedness; (24) our ability to continue to return capital to our stockholders through the payment of cash dividends and/or the repurchase of our common stock; (25) cyber attacks, security breaches, system failures, software or application vulnerabilities, or other cyber incidents; (26) labor market conditions, union disputes and other employee relations issues; (27) a decline in the liability discount rate or lower-than-expected investment returns on pension assets; and (28) the other risk factors discussed in Alcoa's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and other reports filed by Alcoa with the SEC, including those described in this report. Alcoa cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Alcoa disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law. Market projections are subject to the risks described above and other risks in the market. Neither Alcoa nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements and none of the information contained herein should be regarded as a representation that the forward-looking statements contained herein will be achieved.
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