RIINO Inc pronounces that it has been awarded C$2 million ($1.4 million) in funding from the Northern Ontario Heritage Fund Company (NOHFC), serving to speed up the event and testing of its electrical rail haulage system to pave the way in which for its commercialisation in each open-pit and underground mining operations.
“The assist from the NOHFC considerably strengthens RIINO’s skill to advance the
growth of our electrical rail haulage system, addressing important wants in mining effectivity and emissions discount,” Aaron Lambert, CEO of RIINO, says. “This grant permits us to expedite important R&D and testing phases, laying a stable basis for the commercialisation of our rail system and contributing to a decarbonised mining future.”
RIINO’s electrical rail haulage system is designed to switch typical haulage strategies, offering a totally electrical different that reduces environmental affect whereas enhancing value effectivity for mining operators. By specializing in enhancing operational effectivity and supporting decarbonisation, the system aligns with the mining business’s environmental, social and governance priorities, the corporate says.
The corporate has already struck up partnerships with main mining corporations. Each Agnico Eagle Mines and Vale Base Metals backed an in-depth, four-month scoping research on RIINO, which leverages know-how influences from monorails, subway methods and the mechanised elevate climber. The corporate advised IM final 12 months that Capstone Copper and mining and forestry gear service firm Soudure Dufer had additionally joined the consortium centered on progressing the know-how.
RIINO is described as an progressive monorail haulage system focusing on the discount of the business’s carbon emissions and attaining net-zero objectives. It’s designed to obtain its energy from {the electrical} grid which drives the interior, train-mounted motors in addition to auxiliary on-board batteries for an entire electrical and automatic operation.
