Elysis

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.

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

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

• Carbon-free aluminum smelting
• Inert anode technology
• Aluminum electrolysis technology
• Low-carbon aluminum production
• Primary aluminum smelting

Headquarters

HQ city

Montréal

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Supply Chain

Revenue model

1. 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.
2. 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

Core 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

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered supporting and core.

• Ball CorporationsupportingStrategic or Co-development Partner · 6 November 2025Ball 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.
• UnileversupportingStrategic or Co-development Partner · 6 November 2025Unilever 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)coreTechnology or Integration · 28 June 2024ELYSIS 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.
• AlcoacoreStrategic or Co-development Partner · 10 May 2018Alcoa 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 TintocoreStrategic or Co-development Partner · 10 May 2018Rio 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 ManufacturerssupportingImplementation/ SI/ Consulting PartnerELYSIS 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

Emerging 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

• Xx.com/Elysis_techno
• LinkedInlinkedin.com/company/elysis-technology

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elysis