Natick, Massachusetts, June 16, 2015
Responding to the President’s call to action to expand private sector investment in solutions to climate change, INFINIUM will present its plan to introduce clean metals production technology as a critical aspect of reducing CO2 emissions by today’s metals industry.
INFINIUM’s CEO, Steve Derezinski, will brief participants of the Summit today on the ability of its process to revolutionize the manner in which many critical, yet environmentally damaging metals are produced. Vice President Joe Biden will be attending, as well as other senior Obama Administration officials.
One such metal, Aluminum is used increasingly for light-weighting in automobiles – but at a significant cost to the environment, emitting more than 1.5kg of CO2 for every kg of Aluminum produced. In contrast, INFINIUM’s process has the potential to reduce CO2 emissions to zero, dramatically reduce energy intensity, and add billions of dollars of net revenue to new production plants.
“The potential to revolutionize the way we produce metals is huge, and its impact on the environment can be transformative”, said Steve Derezinski, INFINIUM’s CEO and co-founder. “We have achieved an important step, but this cannot be done by INFINIUM alone. Full deployment of next generation clean metals technology needs commitment and additional support from both government and private sources of capital to scale and fully commercialize the new processes.”
INFINIUM has received strong support from the US Government in recognition of the promise of its process to support both clean technology and national security, and the potential to reinvigorate U.S. metals manufacturing. The Department of Energy’s ARPA-E program office has awarded $5M to INFINIUM, and its EERE Office awarded $12M for light-weighting, and the Defense Logistics Agency commissioned a study of INFINIUM’s technology as an alternative platform for next generation production of defense critical materials such as magnesium, tantalum, titanium, and dysprosium.
In addition to its innovative developments in light metals production, INFINIUM is now scaling commercial production for Rare Earth metals. Rare Earth metals, a necessity for products from cell phones and tablets to wind mills and hybrid vehicles and various defense products, are labeled as a critical material by the US DOD and EU defense agency. INFINIUM is the only commercial producer of rare earth metals in the western world, a process largely dominated by Chinese producers.
INFINIUM is a revolutionary metals production technology company, founded in 2008 and headquartered in the Boston area, commercializing technology developed over a decade at MIT and Boston University. INFINIUM has demonstrated its process across a broad range of metals, including magnesium, titanium, tantalum, dysprosium, neodymium, solar-grade silicon and aluminum, enabling trillions of dollars of finished goods. Its mission is to lead the challenge of deploying the next generation of clean, low cost metals to address materials needs of the next 100 years. INFINIUM is privately held, and supported by investors with strong global business and technology experience, and by US Government grants and contracts.
Dr. Aaron A. Bent