Geomega Resources Inc. has announced that Innord Inc. has been awarded a $1.5M funding from Sustainable Development Technology Canada (SDTC) towards the construction of a pilot plant and completion of a feasibility study using Innord’s technology, which is designed for a sustainable & complete valorisation of bauxite residues.
The Project cost is estimated at $4M, towards which Rio Tinto will invest $1.2M, the Ministère de l’Économie et de l’Innovation through Investissement Québec as mandatary of the Government of Québec with the Programme Innovation has provided $300K and Geomega will contribute $550K.
The remaining $450K is intended to be funded by a 3rd party organisation towards the later stages of the Project and will be announced accordingly. The collaborative research work will be led by Dr. Pouya Hajiani, Geomega’s Chief Technology Officer, and will be performed by Innord’s research team in collaboration with Rio Tinto’s R&D team.
“Bauxite residue, the waste generated from aluminium production, requires significant management and monitoring from mining companies to avoid environmental impacts. Innord Inc. is developing a process that reduces the volume of red mud by 70-90% while recovering valuable minerals from that waste. SDTC is pleased to provide funding to help Innord Inc. scale-up their solution to make the industry more sustainable.” commented Leah Lawrence, CEO of Sustainable Development Technology Canada.
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