Álvit

Greener Aluminum Production

Coal tar pitch is used in massive quantities in the alloy and coating industries, as well as in many other industrial applications. However, it is derived from fossil fuels and releases carcinogenic PAH compounds when heated. For this reason, it has now been banned in most cases within the European Union. Álvit’s mission is to clean up energy-intensive and chemical industries by replacing carcinogenic coal tar pitch with a new, environmentally friendly binder. The team at Álvit brings decades of research and development experience and has worked extensively with heavy industry on innovation and circular economy projects. Álvit is developing a sustainable binder in close collaboration with Icelandic aluminum smelters and international electrode manufacturers. The goal is for this binder to replace coal tar pitch in applications such as ramming paste and electrodes for aluminum, silicon, and other alloy industries. Unlike traditional pitch, Álvit’s binder is made from renewable raw materials and does not release harmful or carcinogenic substances. By replacing coal tar pitch in electrodes used in aluminum, silicon, and ferrosilicon production with Álvit’s solution, the industry could reduce its carbon footprint and CO₂ emissions from electrode consumption by at least 20%.
alvit.is
Founded
2020
The fund’s first involvement
One of ten companies chosen in the fund’s initiative in 2023
Útganga Nýsköpunarsjóðs
The investment initiative came at a perfect time for Álvit. We were in discussions with investors, and being part of the initiative gave us greater credibility and made investing in Álvit more appealing. We are very pleased that we decided to submit an application and take part
Kristján Alexandersson, Co-founder & Chief Product Officer
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