The two companies had previously had joint ownership of the technology associated with the carbothermic aluminium production process.

The process is a new technology that holds the potential to produce aluminium at a lower cost, driven by reduced conversion costs, lower energy requirements, and lower emissions at a lower capital cost than traditional smelting.

The technology also holds potential for significant cost improvements in the production of other metals.

The research facility will be relocated to Alcoa’s facility in Lista, Norway, and several key research employees will transfer to Alcoa.