Apple to invest in research and development for eco-friendly technology

The joint venture could change global manufacturing. Aluminium is a key material in many of Apple’s most popular products and for more than 130 years, it’s been produced the same way. But that’s about to change, the company said in a blog post late on Thursday. 

Aluminium giants Alcoa Corporation and Rio Tinto Aluminium announced the venture called “Elysis” to commercialise patented technology that eliminates direct greenhouse gas emissions from the traditional smelting process -- a key step in aluminium production.  

Apple has partnered with both aluminium companies and the governments of Canada and Quebec, to collectively invest a combined $144 million to future R&D.

“Apple is committed to advancing technologies that are good for the planet and help protect it for generations to come,” company CEO Tim Cook said. 

“We look forward to one day being able to use aluminium produced without direct greenhouse gas emissions in the manufacturing of our products,” he added. Aluminium smelting process involves applying a strong electrical current to alumina, which removes oxygen. 

Companies use a carbon material that burns during the process, producing greenhouse gases. 

Alcoa Corporation designed a new process that replaces that carbon with an advanced conductive material and releases oxygen. instead of carbon dioxide.

“Elysis” would work to further develop this technology for larger scale production and commercialisation, with a package planned for sale beginning in 2024. 

The company would continue to provide technical support as well, Apple said. Apple, Goldman Sachs may launch credit card next year Apple is reported to have partnered with Goldman Sachs and might release a credit card next year.  

The new credit card, which marks the end of Apple’s credit card partnership with Barclays, would use the Apple Pay branding. Goldman Sachs would also offer in-store loans to Apple customers. 

The move follows Goldman Sachs acquisition of the team behind Final, a credit card startup. Final’s dozen employees later joined Goldman’s new Consumer and Commercial Banking division. 

Goldman Sachs has a partnership with American Express and its Platinum card. This would be its first foray into consumer credit cards. For Apple, the move is expected to increase user adoption of Apple Pay.