Rockwell Makes Electric Vehicle Industry More Sustainable

Rhea-AI Summary

Rockwell Automation (NYSE: ROK) is contributing to the sustainability of the electric vehicle (EV) industry through its work with the Resolution Copper Project, a joint venture between Rio Tinto and BHP. The project aims to extract copper from a deposit that could supply nearly 25% of US copper demand, with enough copper to manufacture almost 220 million EVs by 2040.

Rockwell's solutions have helped Resolution Copper achieve significant energy savings and increased system efficiency. By implementing variable speed drives and distributed control systems, the project has seen a 5% increase in system efficiency and a 10% decrease in utility costs since July 2023. These improvements translate to about $1 million in annual savings, which Resolution Copper plans to reinvest in other sustainability initiatives.

Positive

• Rockwell's solutions led to a 5% increase in system efficiency for Resolution Copper
• Resolution Copper achieved a 10% decrease in utility costs
• The project is saving approximately $1 million annually in energy costs
• Rockwell's technology is contributing to the sustainability of the EV industry

Negative

• None.

News Market Reaction

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On the day this news was published, ROK gained 0.43%, reflecting a mild positive market reaction.

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NORTHAMPTON, MA / ACCESSWIRE / September 17, 2024 / Electric vehicles (EVs) use four times more copper than conventional vehicles. The Resolution Copper Project has enough copper to manufacture almost 220 million EVs, or about half the global supply, by 2040. At 1.3 miles underground, getting to that copper safely and sustainably is the top priority for the Resolution Copper Project.

This project is a joint venture between mining giants Rio Tinto and BHP. These companies identified a copper deposit in the southeastern U.S. large enough to potentially to supply nearly 25% of US copper demand.

Rockwell Automation (NYSE: ROK) has a variety of options to help customers achieve sustainability goals- from visibility into current state to hardware that reduces energy use to software that identifies opportunities for optimization.

For Resolution Copper Mining, Rockwell targeted reducing energy use by implementing variable speed drives and increasing worker safety with distributed control. Since switching to variable frequency drives as part of its initial ventilation and chilling system upgrades in July 2023, Resolution Copper has seen a 5% increase in system efficiency and a 10% decrease in utility costs. That energy reduction equals about $1 million a year, a savings that Resolution Copper plans to allocate toward other sustainability initiatives.

Learn more about how Rockwell is helping Resolution Copper achieve substantial energy savings and increased system efficiency.

Resolution Copper engineer standing in front of mine entrance.

View additional multimedia and more ESG storytelling from Rockwell Automation on 3blmedia.com.

Contact Info:
Spokesperson: Rockwell Automation
Website: https://www.3blmedia.com/profiles/rockwell-automation
Email: info@3blmedia.com

SOURCE: Rockwell Automation

View the original press release on accesswire.com

FAQ

How much has Resolution Copper's system efficiency improved since implementing Rockwell Automation's solutions?

Resolution Copper has seen a 5% increase in system efficiency since implementing Rockwell Automation's variable speed drives in July 2023.

What percentage of US copper demand could the Resolution Copper Project potentially supply?

The Resolution Copper Project could potentially supply nearly 25% of US copper demand.

How many electric vehicles could be manufactured with the copper from the Resolution Copper Project?

The Resolution Copper Project has enough copper to manufacture almost 220 million electric vehicles by 2040.

What are the annual cost savings for Resolution Copper after implementing Rockwell Automation's (ROK) solutions?

Resolution Copper is saving approximately $1 million annually in energy costs after implementing Rockwell Automation's solutions.