Orbite Aluminae Inc.
TSX : ORT
OTCQX : EORBF

Orbite Aluminae Inc.

February 16, 2015 14:42 ET

Orbite Selected for $4.5M Grant From Sustainable Development Technology Canada (SDTC)

MONTREAL, QUÉBEC--(Marketwired - Feb. 16, 2015) - Orbite Aluminae Inc. (TSX:ORT)(OTCQX:EORBF) ("Orbite" or the "Company") is pleased to announce today that it has been selected to receive up to $4.5M in non-dilutive funding from Sustainable Development Technology Canada (SDTC) to be applied towards Orbite's technology development, demonstration and commercialization related to the processing of red mud.

Red mud is the waste product generated by the Bayer process, the industrial process used for refining bauxite to obtain alumina, the raw material for the electrolytic production of aluminium. A typical bauxite refinery generates one to two times as much red mud as alumina. This waste usually is stockpiled in open-air tailings ponds, although in some cases it has been disposed of in the ocean. Red mud represents a long-term environmental and financial liability for the entire alumina industry. The Orbite process is able to utilize red mud as a feedstock, extracting all of the valuable constituents, including rare earths and rare metals, alumina, magnesium oxide and titanium dioxide, while only returning a small fraction of inert material. In this way, the Orbite process not only contributes to the remediation of an environmental problem, but turns a liability into an asset.

In addition to red mud, Orbite's waste monetization technology is applicable to other significant industrial waste sources, such as fly ash from coal-fired power plants, or serpentine tailings from asbestos mining.

"Our Government is positioning Canada as a global leader in the clean technology sector by supporting innovative projects, such as Orbite Aluminae's technology to remediate red mud and fly ash, aimed at growing our economy while contributing to a cleaner environment," said the Honourable Greg Rickford, Canada's Minister of Natural Resources. "By developing our resources responsibly, exploring next-generation transportation and advancing clean energy technology, the projects announced today will create jobs and improve innovation opportunities in Quebec and across Canada."

"We are pleased with the support and recognition from SDTC for this potentially groundbreaking application of our technology," stated Glenn Kelly, CEO of Orbite. "The funding will allow us to accelerate the development of our waste monetization initiative. With some three billion tonnes of red mud stored worldwide and an additional 120 million tons being produced annually, as well as well over 500 million tonnes of fly ash being produced annually, waste monetization represents a very significant commercial opportunity for Orbite that the Company is now gearing up for."

The funding is subject to satisfactory financial commitment by an industrial partner, fulfillment of project milestones, usual due diligence and other customary conditions. Orbite is presently in negotiations with Veolia and others on this.

About SDTC

On behalf of the Government of Canada, Sustainable Development Technology Canada (SDTC) is a not-for-profit foundation that finances and supports the development and demonstration of clean technologies which provide solutions to issues of climate change, clean air, water quality and soil, and which deliver economic, environmental and health benefits to Canadians. SDTC helps commercialize Canadian clean technologies, readying them for growth and export markets. With a portfolio of companies under management valued at more than $2 billion, SDTC is positioning cleantech as a driver of jobs, productivity and economic prosperity.

SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $590 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.

About Orbite

Orbite Aluminae Inc. is a Canadian cleantech company whose innovative and proprietary processes are expected to produce alumina and other high-value products, such as rare earth and rare metal oxides, at one of the lowest costs in the industry, and in a sustainable fashion, using feedstocks that include aluminous clay, kaolin, nepheline, bauxite, red mud, fly ash as well as serpentine residues from chrysotile processing sites. Orbite is currently in the process of finalizing its first commercial high-purity alumina (HPA) production plant in Cap-Chat, Québec and has completed the basic engineering for a proposed smelter-grade alumina (SGA) production plant, which would use clay mined from its Grande-Vallée deposit. The Company's portfolio contains 15 intellectual property families, including 15 patents and 98 pending patent applications in 11 different countries and regions. The first intellectual property family is patented in Canada, USA, Australia, China, Japan and Russia. The Company also operates a state of the art technology development center in Laval, Québec, where its technologies are developed and validated.

Forward-looking statements

Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management's good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management's Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on November 5, 2014 on SEDAR.

The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.

Contact Information

  • TMX EQUICOM
    Mark Lakmaaker, External Investor Relations Consultant
    1-800-385-5451 ext. 248
    mlakmaaker@tmxequicom.com

    For Media Inquiries:
    TMX EQUICOM
    Scott Anderson, External Media Relations Consultant
    1-800-385-5451, ext. 252
    sanderson@tmxequicom.com