Sheffield firm on edge of ‘smelting’ success
WORK into developing technology that could help aluminium manufacturers dramatically reduce carbon emissions has been given a £120,000 boost courtesy of South Yorkshire Investment Fund (SYIF).
Inertius, which is based at the Advanced Manufacturing Park’s Information Technology Centre near Sheffield, is developing an inert anode that will replace the currently used carbon anodes and eliminate the release of carbon dioxide during the refining of aluminium.
Current refining of aluminium, known as the Hall-Heroult process, is expensive, uses large amounts of energy and releases carbon dioxide and emissions into the atmosphere.
As a result the industry is coming under increased political and legislative pressures to become more environmentally friendly.
The SYIF investment will be used to fulfil a prestigious project with professors at the Auckland University – a world leader in electrochemical metal production processes.
Inertius chief executive Richard Wright, a former president of Sheffield Chamber of Commerce, said: “This piece of research could be the Holy Grail to the aluminium industry.
“Not only will this process mean a huge reduction in the industry’s carbon footprint and benefit the environment but it will also save companies vast sums of money, particularly given the government’s new policy on making them pay for the right to emit greenhouse gases.
“The investment from SYIF allows us to focus on the next stage of development including work in South Yorkshire, Leeds and Auckland Universities. It also means we can pour some resources into forming industrial partnerships, which will help us get the system to market as soon as possible.”
Inertius has also received funding from Enterprise Ventures and the Carbon Trust.
Peter Pridham, Investment Manager at SYIF, said: “The far reaching implications of Inertius and its research will be felt around the world and we’re delighted to be involved.
“It is ground breaking developments such as this that have given our region its rich industrial heritage and Inertius is proving that legacy is alive and well with a system that will benefit the aluminium industry around the world”
Around 100 million tonnes of carbon dioxide is released into the earth’s atmosphere every year from using the current process.
Government-issue permits are now being auctioned off to the highest bidder in the UK in an attempt to cut carbon emissions.
The first auction, held in November this year, saw four million permits sold off at a cost of £54m to British manufacturers and a further 80 million permits are scheduled for auction over the next four years at a cost of £1bn to the industry.
SYIF can provide seedcorn, loan and equity linked investments, ranging from £15,000 to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
