On the way to green industry
RHI Magnesita today signed a long-term strategic cooperation agreement with the Australian cleantech company MCi Carbon (“MCi”). The world market leader in the refractories industry is investing several million in the research and development of innovative technologies to reduce carbon dioxide emissions in order to achieve its goal of becoming a CO2-neutral company. This underlines RHI Magnesita’s role as a pioneer in sustainability in the refractories industry.
“This partnership could become a breakthrough on the way to decarbonizing the industry. It fits seamlessly into RHI Magnesita’s ambitious sustainability strategy,” says CEO Stefan Borgas. “We still have a long way to go, but our investment at this early stage and the clear intention of a long-term cooperation make this day so memorable. Together with the like-minded team at MCi, we will pave the way for a greener industry.”
RHI Magnesita is the world’s leading manufacturer of refractory materials used in all high-temperature industrial processes. As the market leader, RHI Magnesita feels responsible for driving sustainability. Reducing CO2 emissions is therefore one of the company’s top priorities. A significant part of the company’s carbon dioxide emissions is released during the processing of minerals. Decarbonizing the company therefore requires unprecedented innovation and technology
MCi’s technology offers a safe and profitable way to permanently sequester CO2. The chemical process, called mineral carbonation, produces a range of materials, including magnesium carbonate, by carbonating minerals from byproducts of industrial processes. For this innovative climate solution, MCi was awarded the #1 Global Cleantech Pitch at COP26 in Glasgow.
RHI Magnesita is convinced of the potential of mineralization. This will help achieve significant CO2 reduction within the company’s Scope 1 emissions. To date, the two companies have worked together on CO2 mitigation studies, mineralization feedstock assessments and techno-economic analyses at RHI Magnesita’s global sites. The current investment is a result of the high industrial research maturity of the cleantech’s technology and its exceptional suitability for use in the refractories industry and within the Group itself.
“MCi and RHI Magnesita have entered into a value-based collaboration to accelerate the scaling of MCi’s Circular Carbon Platform,” says MCi co-founder and CEO Marcus Dawe. “After a year of successful pilot studies, RHI Magnesita will be MCi’s first commercial customer and shareholder, helping to drive the technology and decarbonize the global refractories industry. This is a positive step towards achieving elusive emissions reductions and, as a result, a circular economy.”
As a next step, the companies’ joint efforts will focus on industrial scaling, which is expected to begin in 2024 with the construction of a demonstration plant by MCi in Newcastle, Australia. This is supported by the Australian government and is in line with the goals of Mission Innovation’s Net Zero Industries Initiative, which is co-led by Austria and Australia.