Asbestos, Quebec, June 29, 2020 – Today, Alliance Magnesium officially broke ground on its high value- added magnesium ingot production plant in the presence of Pierre Fitzgibbon, Quebec’s Minister of Economy and Innovation, Sherbrooke’s federal MP and Parliamentary Secretary to the Minister of Economic Development and Official Languages, Alain Rayes, MP for Richmond-Arthabaska, André Bachand, MNA for Richmond, and Hugues Grimard, Prefect of the Des Sources RCM and Mayor of Asbestos.
This phase—the construction of the commercial demonstration plant—involves an investment of $145 million and will create more than 100 jobs in the Eastern Township region. Almost 100 workers will be active throughout the construction. The casting centre will become operational first, ready to recycle magnesium as of the first quarter of 2021. Construction will then continue for another year in order to complete the plant facilities. Alliance Magnesium already has 15 employees. This fall, operations and maintenance staff will join the team to fulfill the needs of the casting centre. After, more hiring will be done as needs evolve.
The world’s most responsible magnesium
Alliance Magnesium is committed to redefining industry standards with a process that will generate 10x fewer greenhouse gas emissions per ton of magnesium produced than current producers. Magnesium is a very light material that is essential to Quebec’s transportation electrification strategy and the fight against climate change.
Marie-Claude Bibeau, MP for Compton-Stanstead and Minister of Agriculture and Agri-Food (video) “Our government’s strategy is empowering the Quebec regions to achieve their goals. As the post-COVID recovery begins, our support for Alliance Magnesium will promote the creation of high-quality jobs in the knowledge-based economy and reduce our environmental footprint, helping us reach the ambitious targets we have set. I am proud that we are producing some of the world’s greenest magnesium in the Eastern Townships.”
Pierre Fitzgibbon, Minister of Economy and Innovation and Minister Responsible for the Lanaudière Region
“By focusing on Quebecers’ ingenuity and innovation, we will find solutions to fight climate change and develop a green economy in Quebec. There is a growing demand for magnesium worldwide, particularly in the automotive and aerospace industries, because it can be used to produce lighter vehicles. This is a resource we can count on for our transportation electrification strategy. The Government of Quebec is proud to support Alliance Magnesium, a clean technology company whose project is a real example of a circular economy that will create major economic benefits for the Des Sources RCM.”
Hugues Grimard, Mayor of Asbestos and Prefect of the Des Sources RCM
“Alliance Magnesium has immense economic and collective value for our region. After what we have faced over the last few years, our efforts to build a future out of the remains of the past are finally being realized.”
Michel G. Gagnon, Chairman of the Board and CEO
“The success we are celebrating today is the result of a combination of elements. We have major national and international partners, including the Government of Quebec, Marubeni, Alternative Capital Group and Fondaction. The members of our Board of Directors are experienced and complementary, and we count on many collaborators and dedicated employees. With this great team, Alliance Magnesium is bringing high value-added magnesium production back to Quebec.”
Joël Fournier, President and CTO
“There were many indicators that global interest in our business plan would be considerable, but two stand out: first, all of the ESG factors, from our raw material and the circular economy to Alliance Magnesium’s global impact, and second, our process, which has been tested and proven over the last few years at our pilot plant. This process creates a high-quality final product and the most responsible magnesium ingots in the world. There is strong and growing demand for magnesium, and green metal is prized throughout the world. Alliance Magnesium caters directly to this demand.”
About Alliance Magnesium
Alliance Magnesium has developed and patented technology based on clean electrolysis to extract the magnesium contained in serpentine rock and produce recycled magnesium. Alliance will capitalize on growing demand for metallic magnesium and alloys, particularly in the aircraft and automotive industries. These industries are facing the major challenge of reducing the weight of vehicles and equipment in order to lower greenhouse gas emissions.
For information: Karine Vallières, Director, Communication and Public Affairs
819-620-7108 | email@example.com