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Industry committee  Yes, and we are focusing on the next steps. As you said, we are able to produce small quantities. Without going into very sensitive details, I would say that what we are now going to try to do is to produce quantities that will still not be industrial scale, but will be more substantial and be in a way that can be replicated.

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  We have 4,300 or 4,400 employees in Saguenay—Lac-Saint-Jean today who are working on the best technology, AP60, and on the others. We are trying to recreate a competitive advantage for the benefit of those people so that in 50 years our successors will say that this is what ultimately preserved those jobs.

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  They will not necessarily be the same jobs. Yes, Mr. Simard was right to mention that the anodes will not be changed as often. So there will be things that will need to be repositioned in terms of skills, too. On the other hand, we will try to use suppliers in Saguenay—Lac-Saint-Jean to supply us with the new equipment and new materials we are going to need.

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  In fact, Mr. Martel asked a question about this. The Americans are going to try to catch up to us, so we have to stay one step ahead.

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  I would like to take a few seconds to point something out regarding our integration into the Lac-Saint-Jean community. You say we are a source of pride in that community, but the community is also a source of pride for us. I have been in this position for six months, and when I go to Saguenay, I am struck by the level of symbiosis.

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  We are hiring every quarter to increase it.

April 17th, 2024Committee meeting

Jérôme Pécresse

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  I said in my introduction that it's not accurate.

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  I don't think we have cost overruns. This is going to be a process where sometimes we'll test something and it will not work, and then we'll understand why and we'll test it again. You could call it a cost overrun, but it's just innovation life. Do you see what I mean?

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  Yes. You test and it's not working, and then you understand why and you test again.

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  For ELYSIS, I'm not aware.

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  I'm sure we have local support on the things we do in Saguenay. I'm always impressed by how well we work with the community. I'm not aware of anything on ELYSIS specifically.

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  ELYSIS is a proprietary technology developed by the joint venture, with the partnership between us and another very large aluminum producer in the world. It's not an IP that we intend, in the short term, to license to anybody. We are aware of some competing projects to do the same that may have happened in Russia or China.

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  Based on the business model, we have received subsidies of approximately the same value from the federal government and the Quebec government. As I said, those subsidies initially represented approximately 70% of the investments. Since then, the joint venture partners have financed the subsequent stages of development themselves.

April 17th, 2024Committee meeting

Jérôme Pécresse

Industry committee  To avoid any misunderstanding on the committee's part, I want to point out that there is actually aluminum being produced using the ELYSIS technology. I do not know whether you have any, but if not, I will be happy to give you some. I have an aluminum ingot here produced with no carbon emissions using ELYSIS.

April 17th, 2024Committee meeting

Jérôme Pécresse