For Immediate Release: November 24, 2015
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INFINIUM, Inc. Awarded $2.85 Million from ARPA-E for Transformational Energy Technology
NATICK, MA – INFINIUM, Inc. announced today that it was awarded $2.85 million in funding from the U.S. Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E). The funding will be used to create an ultra low energy Magnesium Recycling system which produces high-purity magnesium from low-grade scrap using 70-90% less energy than today's best purification technology, in order to supply the growing demand for lighter vehicles.
“This award builds on our expertise in Magnesium and will enable a significant transformation in the Magnesium Recycling industry and possibly primary production. We are excited to have been selected for this Award and look forward to working with industry on scale-up.”, said Steve Derezinski, CEO.
INFINIUM, Inc. is an innovative clean metals company located outside of Boston. A world-class team of metallurgists and electrochemists, INFINIUM is scaling up Rare Earth Metal production and developing inert anodes for clean Aluminum production. This award will add to its light metal portfolio of technologies.
INFINIUM, Inc. received this competitive award from ARPA-E’s OPEN 2015 program, which serves as an open call to scientists and engineers for transformational technologies outside the scope of ARPA-E’s existing focused programs. Through both open and focused solicitations, ARPA-E funds technologies that display technical promise and commercial impact but are too early for private-sector investment.
INFINIUM's new patent-pending process could significantly reduce both energy use and cost to convert low-grade Mg scrap metal into high purity Mg and Mg alloys suitable for demanding structural applications. Unlike today's technology, the new process is continuous and automated, dramatically reducing labor and capital costs as well as energy use. The result would be a key enabling technology to promote increased use of Magnesium in reducing vehicle weight by up to 50%.
ABOUT INFINIUM, Inc. http://www.infiniummetals.com
INFINIUM is a development-stage company commercializing novel processes for primary production and recycling of metals. Our first metals are aluminum and magnesium, for lightweight fuel-efficient vehicles and aircraft components, and neodymium, for the magnets in wind turbines and hybrid/electric vehicles. Conventional metal-making technologies are extremely pollution-intensive negating much of their benefit for clean energy and energy efficiency. INFINIUM technology efficiently produces these metals with up to 50% less energy and ZERO direct emissions.