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Market
Main funding source for BioIron™ facility by end of 2024?
5
Resolution / Starting Odds
Government grants • 25%
Private investment • 25%
Rio Tinto internal funds • 25%
Joint venture • 25%
Official Rio Tinto financial disclosures or news reports
Story
Rio Tinto to Develop $143 Million BioIron™ Facility for Low-Carbon Steelmaking in Australia
Jun 4, 2024, 08:57 AM
Rio Tinto is set to develop a $143 million research and development facility in Western Australia to test its low-carbon steelmaking process, BioIron™. This initiative aims to transform an empty warehouse in Perth’s south into a state-of-the-art research facility. The BioIron™ process is designed to eliminate the need for cooking coal, significantly reducing emissions in the steel industry. This development highlights how new clean energy tech can help eliminate steel-industry emissions.
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Government grants • 33%
Private foundations • 33%
Corporate sponsorships • 33%
NIH • 33%
Wellcome Trust • 33%
Private pharmaceutical companies • 33%
Other • 33%
Yes • 50%
No • 50%
Government grants • 33%
Private sector investment • 33%
Public-private partnerships • 34%
Private sector funding • 25%
International government funding • 25%
Non-profit organizations and grants • 25%
No significant new funding • 25%
Yes • 50%
No • 50%
Gates Foundation • 34%
Wellcome • 33%
Novo Nordisk • 33%
