Rio Tinto to invest $150 million in Future Materials Center

The multinational Rio Tinto recently announced that it will allocate $150 million to create a Future Materials Center led by Imperial College London. This initiative aims to find innovative ways to provide the materials the world needs for the energy transition.

Specifically, the ‘Rio Tinto Center’ will allocate funds for various research projects whose main objective will be to improve the way in which materials are produced, shaped and recycled, seeking to sustain them from an environmental, economic and social point of view.

As a result of the recent merger between Rio Tinto and Imperial, both firms began setting goals to address global issues that had not previously been addressed. These projects will be the center’s starting point as it works together with several international academic institutions.

The center will be established in the second half of 2023, with the first research programs to be funded in 2024. Rio Tinto will contribute US$150 million over 10 years to fund the center.

For his part, Jakob Stausholm, the CEO of Rio Tinto, said that to achieve a net-zero world, better ways must be found to deliver the necessary materials; and that no one can do it alone. “For the world to reach net zero, we must find better ways to provide the materials it needs. No single player can do this alone, and research and development plays a vital role. Imperial College London is one of the world’s leading institutions focused on science and engineering; I can’t wait to see the progress we make, as we bring together the best of industry and academia, with shared ambition,” added Stausholm.

Professor Mary Ryan, Imperial’s Vice Chancellor (Research and Enterprise), said, “All aspects of human society depend on materials, from housing to transport, energy, communications and health. We need to create sustainable ways of extracting, processing and reusing these resources” to which she added that “moving to a truly sustainable society requires a holistic approach to these complex industrial processes. This is inherent in Imperial’s approach. We will address these challenges and design future innovations that are resource- and energy-efficient, nature-positive, human-centered and fair. By working hand-in-hand with other leading international institutions, we will create a truly multidisciplinary and global effort to drive the next industrial revolution in harmony with nature.”

Also, to celebrate Rio Tinto’s 150th anniversary, a financial commitment of $150 million has been pledged to be delivered over 10 years. These fees will help diverse teams to research and deliver innovative and transformative solutions that have the environment, society and governance at their core.

The Center builds on Rio Tinto’s long-standing support for research and innovation. It will complement an Innovation Advisory Committee of global experts in their fields that Rio Tinto recently established to accelerate its innovation portfolio and provide external input and guidance on emerging and disruptive technologies.