Novelis Inc., a leading provider of sustainable aluminum solutions and the world leader in aluminum rolling and recycling, today opened a new $50 million recycling center. With an annual casting capacity of 100 kilotons of low-carbon foil ingots, the center is expected to reduce Novelis’ carbon emissions by more than 420,000 tonnes each year.
“As a global leader in sustainable, low-carbon rolled aluminum solutions, we are focused on accelerating the aluminum industry’s transition to a circular economy model through the increased use of recycled content in our products,” said Sachin Satpute, President of Novelis. Asia. “This will reduce our carbon footprint – as well as that of our customers and the industry as a whole – and bring us closer to achieving our 2050 goal of carbon neutrality.”
Doo-Gyeom Kim, Mayor of Ulsan Metropolitan City, Yeon-Chul Lee, President of Ulsan Chamber of Commerce, attended the groundbreaking ceremony of Novelis Recycling Center, which is under construction by Ulsan Aluminum, Novelis’ joint venture with Kobe Steel. and Nolan Barkhouse, Senior Officer, US Consulate in Busan. The facility is expected to be commissioned in 2024.
Novelis, which operates Asia’s largest aluminum recycling center in Yeongju, North Gyeongsang Province, is building the new recycling center to meet the long-term global demand for low-carbon, durable aluminum sheets. carbon emissions for cans, automotive and high-end specialty products. The addition of the Ulsan recycling center will allow Novelis to increase its recycling capacity by more than 20% to 440 kt in Korea and improve its ability to process different types of aluminum scrap. This is the latest in a series of recent investments by Novelis to increase its recycling capacity globally.
Using recycled aluminum as a raw material saves 95% of the energy used to produce primary aluminum from bauxite, reducing carbon emissions by 95%. Additionally, aluminum is infinitely recyclable, making it an increasingly important choice of sustainable material. For example, aluminum beverage cans are one of the most sustainable packaging because used cans can be recycled and made into new cans and back on store shelves in just 60 days. Novelis recycles 82 billion used beverage cans per year, with the Yeongju recycling center processing more than 18 billion per year.
Statements made in this press release that describe Novelis’ intentions, expectations or forecasts may be forward-looking statements within the meaning of securities laws. Examples of forward-looking statements in this press release include investment plans of approximately $50 million, expectations to reduce carbon emissions by more than 420,000 tonnes each year, expectations of Novelis to be carbon neutral carbon by 2050 and job creation. Novelis cautions that, by their nature, forward-looking statements involve risks and uncertainties. We do not intend, and disclaim any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. Material risk factors that could impact results are included under the heading “Risk Factors” in the company’s Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended March 31, 2022.
Novelis Inc. is driven by its goal of shaping a sustainable world together. We are a global leader in the production of innovative aluminum products and solutions and the world’s largest aluminum recycler. Our ambition is to be the leading provider of sustainable, low-carbon aluminum solutions and to achieve a fully circular economy by partnering with our suppliers, as well as our customers in the aerospace, automotive, beverage cans and specialty products in North America and Europe. , Asia and South America. Novelis had net sales of $17.1 billion in fiscal year 2022. Novelis is a subsidiary of Hindalco Industries Limited, a leader in the aluminum and copper industry, and the company metals flagship of the Aditya Birla Group, a multinational conglomerate based in Mumbai. For more information, visit novelis.com.