Sun Metals, an Australia-based zinc refinery and a wholly owned subsidiary of Korea Zinc, will partner with Energy Vault, using its storage technology and energy management software to support renewable power supply and optimisation to support their refining infrastructure.
The scope of the partnership also includes the potential sustainable and beneficial re-use of tailings and other refining waste materials within Energy Vault’s eco-friendly composite blocks.
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Sun Metals is targeting to become one of the first zinc refineries to produce “green” zinc in support of their broader strategy to shift to 100 per cent renewable power by 2040 with an interim target of 80 per cent renewable by 2030.
Sun Metals is currently the second largest consumer of electricity in Queensland, Australia with greater than 1TWh of consumption per annum.
“Energy Vault’s innovative storage technology and energy management software platform can play a key role in enabling and accelerating our decarbonization strategy as we enhance our ability to power our operations with renewable energy,” Korea Zinc vice chair Yun B. Choi said.
“We are proud to partner with Korea Zinc and Sun Metals to broadly support their clean energy transition within their refining operations,” Energy Vault founder and CEO Robert Piconi said.
“Korea Zinc has demonstrated tremendous global leadership as a company in setting aggressive decarbonisation targets and then investing significant capital to make sustainable, decarbonised energy a reality for their operations, and that certainly is the case here with their investment in Energy Vault.”
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“We look forward to collaborating with Energy Vault in pursuit of our goal to become the first refinery in the world to produce green zinc made entirely from renewable energy,” Sun Metals CEO Kiwon Park said.
“As the second largest consumer of electricity in Queensland, Sun Metals has a strong focus on being both environmentally responsible and the most competitive zinc refinery in the world.”