Masdar and DUBAL sign agreement to monetize greenhouse gas reductions

Masdar today signed an agreement with Dubai Aluminium Company Limited (DUBAL) to develop and register a project under the Clean Development Mechanism (CDM) of the Kyoto Protocol

United Arab Emirates: Monday, July 30 - 2007 at 17:15
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Masdar, the landmark initiative by the Abu Dhabi Government to promote advanced energy and sustainability, today signed an agreement with Dubai Aluminium Company Limited (DUBAL) to develop and register a project under the Clean Development Mechanism (CDM) of the Kyoto Protocol which will reduce greenhouse gas emissions associated with aluminium smelting.

The CDM project, the first of its kind in the Middle East, targets the monetization of greenhouse gas emission reductions resulting from DUBAL's new measures to improve the process control at the company's existing aluminium smelter at Jebel Ali. DUBAL is one of the largest single-site aluminium smelter in the world, having generated almost 861,000 metric tonnes of hot metal in 2006.

The CDM, a project-based mechanism governed and audited by the United Nations (UN), provides financial incentives to reduce greenhouse gas emissions in developing countries by turning emission reductions into tradable assets or 'Carbon Credits'.

In terms of the agreement signed today, Masdar will be responsible to develop the CDM project which will address a new technology to be implemented by DUBAL to reduce emissions of perfluorocarbons (PFCs) during the electrolytic reduction of aluminium.

Abdulla Kalban, DUBAL's CEO, said 'Since its inception in 1979, DUBAL has been committed to minimizing its impact on the environment. We achieve this by using in-house developed technological advances and our extensive expertise in the aluminium industry, and it will continue to be a focus area going forward. This CDM project will provide opportunities for us to market our capabilities and achievements, to the benefit of the global environment.'

Evidencing DUBAL's success at reducing other emissions, a benchmarking exercise involving more than 150 companies in 2005, conducted by the UK-based International Aluminium Institute (IAI), ranked DUBAL's fluoride emissions resulting from anode production second-lowest in the study group. The company ranked first in the particulate fluoride emissions category; second for gaseous fluoride emissions; and was the third best performing smelter for total fluoride emissions.

Masdar CEO, Dr. Sultan Ahmed Al Jaber, described DUBAL's new technology to reduce emissions from the smelting process as an excellent CDM opportunity.

'We consider this project an important milestone in Masdar's goal to create a low-carbon culture within our national industries,' added Dr. Al Jaber. 'It also demonstrates DUBAL's environmental leadership and commitment to drive a sustainable operation.'

Masdar, a leading carbon-related project developer, is leveraging the CDM to assist in the creation of the necessary conditions for sustainable growth in the region and to address key environmental concerns. Masdar is actively developing a portfolio of CDM projects in oil and gas, power, renewable energy and heavy industry.

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ABOUT MASDAR AND THE ABU DHABI FUTURE ENERGY COMPANY

The Abu Dhabi Future Energy Company (ADFEC) is Abu Dhabi's vision and investment in the future of energy and environmental sustainability - a private joint stock company established and wholly-owned by Mubadala. ADFEC drives the Masdar Initiative, a multi-billion dollar, multi-faceted response to the need for a global focus on the development of advanced energies and sustainability-related technologies.

Masdar is designed to ensure that Abu Dhabi grows its share of the global energy market by fostering the development and commercialization of advanced and innovative technologies in renewable, alternative and sustainable energies for a cleaner, safer environment and future.

Masdar has partnered with the world's most prominent companies, educational institutions and investment firms to lead and advance a global strategy of international knowledge and capability to change the way the world understands energy and create a historic, global shift to new energy sources and sustainable resource utilization.

Masdar is comprised of six strategically designed and focused units:

MASDAR INSTITUTE OF SCIENCE AND TECHNOLOGY - in partnership with the MIT, will offer Masters and PhD programs in science and engineering focused on advanced energy and sustainable technologies.

MASDAR RESEARCH NETWORK - a unique collaborative network of world-class scientists and post-doctoral researchers linking the MASDAR Institute and seven leading global scientific research institutions in three continents.

INNOVATION & INVESTMENT - the investment and commercialization vehicle for advanced energy and sustainability technologies.

SPECIAL PROJECTS - develops capital-intensive projects including large-scale manufacturing and deployment of new energy technologies and systems.

CARBON MANAGEMENT - spearheads the development of multi-sector greenhouse gas reduction projects.

MASDAR ZONE DEVELOPMENT - a unique, integrated 'Green Community' in the heart of Abu Dhabi hosting Masdar and a carefully selected pool of international tenants who will invest, develop, and commercialize advanced energy technologies.

About Dubai Aluminuim Company - DUBAL

DUBAL is ranked as the seventh largest producer of primary aluminium in the world, and currently ranks as the largest single-site aluminium smelter complex in the Western world and is also the single largest non-oil contributor to the economy of Dubai. Built on a 480-hectare site, DUBAL's major facilities comprise a 881,000 tonnes-per-annum primary aluminium smelter, a 1,983 megawatt power station, a large carbon plant, three casthouses, a 30-million-gallon-per-day water desalination plant, laboratories, port and storage facilities.

The company has the capacity to produce more than 900,000 metric tonnes of high quality finished aluminium products a year, in three main forms: foundry alloy for automotive applications, extrusion billet for construction purposes and high purity aluminium for the electronics industry. A dynamic growth strategy will increase annual production volumes of metal to almost one million metric tonnes by 2008.

DUBAL serves 280 customers in 44 countries predominantly in the Far East, Europe, the ASEAN region, the Middle East and Mediterranean region, and North America. The company holds ISO 9001, ISO 14001 and OHSAS 18001 certification; and has twice won the Dubai Quality Award in the Production and Manufacturing sector (1996 and 2000).

Posted by Lara Lynn Golden, News Editor
Monday, July 30 - 2007 at 17:15 UAE local time (GMT+4)

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