Elysis
ELYSIS is a Montreal-based joint venture between Alcoa and Rio Tinto that develops and licenses proprietary inert anode technology for carbon-free aluminum smelting, serving global aluminum producers and downstream brand customers.
- Company typePrivate
- Founded2018
- HeadquartersMontréal, Canada
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Elysis does
ELYSIS is a Montreal-headquartered joint venture formed in May 2018 between Alcoa Corporation and Rio Tinto (equal ownership), with the Government of Quebec holding a 3.5% equity stake through Investissement Québec. The company develops and commercializes proprietary inert anode electrolysis technology for aluminum smelting that eliminates all direct greenhouse gas emissions from the smelting process while producing oxygen as a by-product. Its core technology replaces traditional carbon anodes with proprietary inert materials that remain stable during electrolysis, deliver 30x longer anode life, and use a unique vertical anode/cathode geometry that increases productivity per unit footprint versus conventional cells. ELYSIS operates a CAN$50 million Industrial R&D Centre within Rio Tinto's Jonquière Complex in Saguenay, Quebec (25+ technical experts), with additional engineering and materials R&D locations in New Kensington, Pennsylvania, and France.
ELYSIS monetizes the technology through two complementary B2B revenue streams: (1) licensing of inert anode smelter technology to aluminum producers worldwide for both new smelter construction and retrofit of existing facilities, and (2) exclusive worldwide sales of the proprietary anode and cathode materials required to operate licensed smelters. The first smelter technology license was issued to Rio Tinto in June 2024 for a 100 kA demonstration plant with 10 pots at the Arvida site in Saguenay–Lac-Saint-Jean, and the first commercial-scale 450 kA inert anode cell was successfully started up at Rio Tinto's Alma smelter in November 2025. The company does not sell aluminum directly; instead, brand-level offtake signals (Apple for MacBook Pro and iPhone SE, AB InBev for beer cans, Audi for e-tron GT wheels, Unilever for personal care packaging) flow through its parent companies' supply chains. By 2024, ELYSIS employed approximately 200 people and had received cumulative investment of approximately CAN$650 million (roughly 65% private and 35% public from Canadian federal and Quebec government sources), reflecting its position in a pre-commercial-to-early-commercial commercialization phase targeting global aluminum industry decarbonization.
Elysis firmographics
Firmographics- Name
- Elysis
- Legal name
- ELYSIS Limited Partnership
- Website
- https://elysis.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- ELYSIS is a Montreal-based joint venture between Alcoa and Rio Tinto that develops and licenses proprietary inert anode technology for carbon-free aluminum smelting, serving global aluminum producers and downstream brand customers.
- Ownership category
- akta.pro rank
Elysis industry classification
Industry- Product category
- Industrial Aluminum Smelting Technology
- NAICS
- Alumina Refining and Primary Aluminum Production (331313), Alumina and Aluminum Production and Processing (33131)
- SIC
- Primary Production Of Aluminum (3334)
- akta.pro primary industry
- Aluminum Smelter/Refinery Technology, Equipment & Refractories (IMAKACAL)
- akta.pro secondary industries
- Primary Aluminum Smelting (IMAKACAC), Aluminum Project Development, Engineering & EPC (Smelters/Refineries) (IMAKACAO)
Keywords
Where Elysis is headquartered
LocationHeadquarters
- HQ city
- Montréal
- HQ country
- Canada
- HQ region
- North America
Offices5 records
Markets served
Elysis business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Supply Chain
Revenue model
- Technology Licensing: ELYSIS licenses the inert anode smelter technology to aluminum producers globally for use in both new smelter construction and modernization/retrofit of existing aluminum smelters. The first smelter technology licence was issued to Rio Tinto in June 2024 for a 100 kA demonstration plant with 10 pots at the Arvida smelter in Saguenay–Lac-Saint-Jean, Québec.
- Proprietary Materials Sales (Anodes and Cathodes): ELYSIS holds exclusive worldwide sales rights to the next-generation electrode materials (anodes and cathodes) used in the inert anode technology. These materials last more than 30 times longer than traditional carbon-based anodes.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Elysis product offering
Product offeringCore offering
Elysis develops and licenses proprietary inert anode electrolysis technology for primary aluminum smelting that eliminates all direct greenhouse gas emissions and produces oxygen as a by-product. The company issues smelter technology licenses to global aluminum producers for use in both new smelter construction and modernization of existing facilities, and holds exclusive worldwide sales rights to the next-generation proprietary electrode materials (anodes and cathodes) essential to the process.
Product overview
ELYSIS is a technology company offering the ELYSIS™ inert anode technology system for carbon-free aluminum production. The core product is the proprietary inert anode technology which eliminates direct GHG emissions from electrolysis and produces oxygen. The company operates through a licensing model, granting technology licenses to aluminum producers for use in new construction or existing smelter retrofits, while exclusively supplying the proprietary electrode materials (anodes and cathodes) required for operation. ELYSIS does not sell aluminum directly but enables aluminum producers to manufacture the metal with zero direct carbon emissions.
Differentiator
Problem solved
Functional benefit
Products and services
- ELYSIS Inert Anode Technology Proprietary inert anode electrolysis technology for primary aluminum smelting that eliminates all direct greenhouse gas emissions from the electrolysis process and produces oxygen as a by-product, replacing traditional carbon anodes with proprietary inert materials that remain stable during electrolysis. Licensed to aluminum producers for use in new smelter construction and retrofitting of existing facilities.
- ELYSIS Smelter Technology Licensing Program
Quantifiable outcome
- Reduction of GHG emissions by 7 million tonnes per year in Canada alone, equivalent to removing 1.8 million cars from the roadway
- +3 more outcomes
Companies that use Elysis
Customer profileNamed customers4 records
Segments1 record
Ideal customer profiles1 record
Elysis technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Elysis partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered supporting and core.
- Ball CorporationsupportingBall Corporation partnered with Alcoa and Unilever to launch the first use of ELYSIS carbon-free smelting technology in consumer packaging. The packaging contains 50% ELYSIS primary aluminium and 50% recycled content.
- UnileversupportingUnilever partnered with Alcoa and Ball to launch the first use of ELYSIS carbon-free smelting technology in consumer personal and home care packaging, marking the first application of this technology in the consumer goods sector.
- Rio Tinto (Technology Licence)coreELYSIS issued its first smelter technology licence to Rio Tinto in June 2024 for a 100 kA demonstration plant with 10 pots to be built at Rio Tinto's Arvida site in Saguenay–Lac-Saint-Jean, Québec. This is the first milestone towards full commercialization of the inert anode technology.
- AlcoacoreAlcoa and Rio Tinto formed the ELYSIS joint venture in May 2018 to develop and commercialize the inert anode technology for aluminium smelting. Alcoa initially developed the technology at its Technical Center near Pittsburgh. Alcoa and Rio Tinto each hold equal equity stakes in ELYSIS, with Alcoa contributing patents and IP, and both sharing the development investment.
- Rio TintocoreRio Tinto partnered with Alcoa to form the ELYSIS joint venture in May 2018. Rio Tinto provides smelting infrastructure (Alma and Arvida smelters in Quebec) for technology testing and demonstration. Rio Tinto's technology design team in France creates commercial-scale designs. Rio Tinto received the first ELYSIS smelter technology licence in June 2024 for a 100 kA demonstration plant at Arvida.
- Quebec-based Local Suppliers and Equipment ManufacturerssupportingELYSIS has entered into a series of long-term partnerships with local suppliers in Quebec for the development of new key equipment for the operation of the inert anode smelter technology. These partnerships are essential to the deployment of the ELYSIS technology and involve regional equipment makers and manufacturers.
Scale indicators5 records
Recent moves11 records
Expansion highlights6 records
Elysis competitors and assessment
Company assessmentEmerging players
- Ball Corporation: Global aluminum packaging leader and a partner of Alcoa/Unilever in launching the first consumer packaging product using ELYSIS aluminum. Comparable as an emerging downstream adopter demonstrating commercial pull for carbon-free aluminum in the packaging market.
- Boston Metal: U.S.-based startup developing molten oxide electrolysis (MOE) technology for green steel production using electrochemical principles analogous to ELYSIS's inert anode approach. Comparable as an emerging electrochemical metals technology company targeting industrial decarbonization.
Direct peers
- Norsk Hydro ASA: Global aluminum producer developing its own HAL4e low-carbon smelting technology and operating Hydro CIRCAL recycled aluminum products. Directly comparable as a competing primary aluminum producer pursuing carbon-free smelting pathways.
- RUSAL: World's largest aluminum producer outside China and a competitor in low-carbon aluminum, with R&D into inert anode technology. Comparable as a primary aluminum producer pursuing proprietary decarbonization pathways for smelting.
- Emirates Global Aluminium (EGA): One of the world's largest primary aluminum producers and a major technology licensor in the smelting space (e.g., DX+ and DX+ Ultra smelting technologies). Directly comparable as a primary aluminum producer that both operates and licenses proprietary smelting process technology.
- China Hongqiao Group: World's largest aluminum producer by capacity and an aggressive mover in low-carbon and hydropowered aluminum. Comparable as a major primary aluminum producer that influences global smelting technology direction and capacity additions.
Broad incumbents
- Hindalco Industries (Aditya Birla Group): Major integrated aluminum and copper producer with global smelting operations and a growing focus on low-carbon and recycled aluminum products. Comparable as a large incumbent aluminum producer pursuing decarbonization of its primary smelting assets.
- Constellium SE: Global aluminum products manufacturer focused on aerospace, automotive, and packaging markets, with growing emphasis on low-carbon and recycled aluminum. Comparable as a downstream aluminum value-chain participant serving the same end-customers (Apple, Audi) that validate demand for ELYSIS-enabled metal.
Others
- Alcoa Corporation: One of the two founding JV partners of ELYSIS and a global aluminum producer. Included as an ecosystem participant given its dual role as sponsor, technology originator (technology developed at Alcoa Technical Center), and potential competing technology owner.
- Rio Tinto Group: One of the two founding JV partners of ELYSIS, the largest Western aluminum producer, and ELYSIS's first technology licensee. Included as an ecosystem participant given its central role as JV owner, host of demonstration sites (Alma, Arvida), and design partner.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Elysis social profiles
Digital presenceElysis financial estimates
Financial estimateRevenue estimate
Valuation estimate
Elysis leadership team
Management profileNumber of profiles
Profiles2 records
Elysis funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Elysis M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Elysis
What does Elysis do?
Elysis develops and licenses proprietary inert anode electrolysis technology for primary aluminum smelting that eliminates all direct greenhouse gas emissions and produces oxygen as a by-product. The company issues smelter technology licenses to global aluminum producers for use in both new smelter construction and modernization of existing facilities, and holds exclusive worldwide sales rights to the next-generation proprietary electrode materials (anodes and cathodes) essential to the process.
Is Elysis a public or private company?
Elysis is a private company. It is classified as corporate owned and is currently operating.
When was Elysis founded?
Elysis was founded in 2018. It employs 51 to 100 people.
Where is Elysis based?
Elysis is headquartered in Montréal, Canada, in the North America region.
How does Elysis make money?
Two revenue lines are on record. Technology Licensing is the primary driver. The others are proprietary Materials Sales (Anodes and Cathodes).
Who are Elysis's main competitors?
Emerging players on record are Ball Corporation and Boston Metal. Direct peers are Norsk Hydro ASA, RUSAL, Emirates Global Aluminium (EGA) and China Hongqiao Group. Broad incumbents are Hindalco Industries (Aditya Birla Group) and Constellium SE. Others are Alcoa Corporation and Rio Tinto Group.
Does Elysis have an API?
No public API is recorded for Elysis.
What industry is Elysis in?
Elysis's product category is Industrial Aluminum Smelting Technology. Its primary akta.pro industry code is IMAKACAL, Aluminum Smelter/Refinery Technology, Equipment & Refractories, with a secondary code of IMAKACAC, Primary Aluminum Smelting. Its NAICS code is 331313 and its SIC code is 3334.