Rio Tinto powers up with Bill Gates-backed solar

The miner’s Mojave desert operations will use carbon neutral energy from a group backed by Bill Gates, with an eye to a broader partnership.

Rio Tinto Borax's operation at Boron in California's Mojave desert.

Rio Tinto has partnered with Bill Gates-backed renewable energy company Heliogen to provide solar-powered, carbon neutral energy to its borates mine in California as part of a process that could see the start-up play a large role in helping the miner completely decarbonise its operations.

Under a Memorandum of Understanding signed between the companies, Heliogen will deploy its proprietary AI controlled system of mirrors at the mining operation that can capture and store heat from the sun, allowing the mine to create steam during the day and at night, “providing the same uninterrupted energy stream offered by legacy fuels.”

Heliogen’s technology will supplement the natural gas cogeneration plant and natural gas fired boilers that currently create steam at the site, reducing carbon emissions at the Boron site by around 7 per cent – equivalent to taking more than 5,000 cars off the road, according to Rio Tinto.

The company also said it would examine the potential for larger scale use of the Heliogen technology at Boron to reduce the site’s carbon footprint by up to 24 per cent.

Rio Tinto Chief Executive Jakob Stausholm said Heliogen technology could be applied to the $40.8bn miner’s other operations.

“This partnership with Heliogen has the potential to significantly

reduce our emissions at Boron by using this groundbreaking solar technology, and we look forward to exploring opportunities across our global portfolio,” Mr Stausholm said.

“Addressing climate change effectively will require businesses, governments and society to work together through partnerships like this one, to explore innovative new solutions throughout the entire value chain. Our work with Heliogen is part of Rio Tinto’s commitment to spend approximately $1bn on emissions reduction initiatives through to 2025 and our commitment to work with world-leading technology providers to achieve this goal.”

Heliogen was founded in its CEO Bill Gross’s technology start-up incubator Idealab in 2013 and counts Bill Gates, Los Angeles Times owner Patrick Soon-Shiong and former America Online CEO Steve Case among its backers.

It launched its concentrated solar technology on a commercial basis in 2019.

Mr Gross said he was “gratified” to partner with Rio Tinto.

“We’re pleased to find a partner committed to cutting its contributions to climate change,” he said.

“We’re also pleased that Rio Tinto is exploring our technology to play an important role in helping reach its sustainability goals while dramatically reducing its energy costs.”

Shares in Rio Tinto closed at $109.70 on Wednesday, up 1.9 per cent.

Heliogen counts Bill Gates, Los Angeles Times owner Patrick Soon-Shiong and former America Online CEO Steve Case among its backers. Picture: Getty Images.