Benzinga | Nov 15, 2021 06:28PM EST

Century Aluminum Reports Letter Of Intent With Qair For Supply Of Wind Power To Grundartangi Smelter, Cooperation On CO2 Capture, No Terms Disclosed

Century Aluminum Company (NASDAQ:CENX) announced today that its wholly-owned subsidiary, Nor?ur?l Grundartangi ehf ("Nor?ur?l"), and Qair, an independent renewable power producer, have signed a letter of intent for the supply to the Grundartangi smelter of green electricity originating from two of Qair's windfarms with a total installed capacity of 200 MW under development in Iceland.

In addition, the two companies have agreed to join forces in the development of a solution to capture CO2 from the Grundartangi smelter. If successful, the captured CO2 would be used for the production of eFuel in connection with Qair's hydrogen plant which is planned on a site next to Grundartangi.

"At Century we are committed to the highest possible environmental standards across all of our operations, as evidenced by our continued focus on reducing the carbon footprint of our aluminum products and working to minimize greenhouse gas emissions, commented Gunnar Gu?laugsson, Executive Vice President, Global Operations and Managing Director of Nor?ur?l. "Our cooperation with Qair at Grundartangi could prove to become an important step in our journey to lower carbon emissions."

Aluminum made from 100% Icelandic renewable energy

Grundartangi uses Iceland's 100% renewable energy resources to create Natur-Al(tm) aluminum, which has one of the lowest CO footprints in the world. Natur-Al(tm) has less than a quarter of the CO content than the industry average, fulfilling the growing demand from Europe's most environmentally conscious consumers. The company is committed to minimize its environmental impact even further and is certified by the Aluminium Stewardship Initiative (ASI) for responsible production.

Qair intends to develop, build, own, and operate two windfarms totaling installed capacity of 200 MW and supply electricity to Grundartangi through a power purchase agreement.