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- Hydro signs a deal to supply Mercedes Benz low-carbon aluminum starting in 2023 till 2030.
- The partnership will see both companies adopt VeChainThor blockchain in their journey to CO2 neutrality.
Car manufacturer Mercedes Benz has partnered with Hydro, one of the largest aluminum companies in the world and a user of VeChainThor.
Hydro states in a press release that the partnership will see it supply Mercedes with low-carbon aluminum. This will help Mercedes reduce the carbon footprint of its vehicle fleet, including the fully electric EQ models.
Hydro will supply the first batch of Hydro REDUXA, its low-carbon aluminum line with less than 3.0kg CO2/kg emission, by 2023. The low-carbon aluminum line is approved for automotive applications is reusable and can be used to make various parts.
These include high-voltage cables, side sills, crush cans, front crash members, and rear bumpers. Multiport extrusions, subframes, battery boxes, and exterior details like roof rails and trims can also be fabricated with this aluminum.
Hydro and Mercedes have agreed to a common low-carbon technology roadmap between 2023-2030. The two companies are also working individually to further reduce the carbon footprints of their operations.
“Mercedes-Benz is a forward leaning company and a perfect partner for Hydro. The ambition of making their entire fleet of new passenger cars CO2 neutral by 2039 matches Hydro’s ambition to deliver industrial scale zero-carbon aluminum by 2030,” Hilde Merete Aasheim, President and CEO of Hydro, said.
Meanwhile, Hydro keeps track of its carbon footprint through the Tag.Trace.Trust (TTT) VeChain-based solution developed by classification society DNV. DNV announced the partnership in February 2021 noting that it was prompted by the rising need for reliable sustainability data across supply chains.
With the implementation, Hydro customers were enabled to verify the validity, reliability, and authenticity of the environmental profile of its products. Significantly, TTT being blockchain-based prevents manipulation of the data by DNV, Hydro, or any third-parties.
VeChain adoption bullish for VET market
Meanwhile, VeChainThor blockchain has seen several other adopters. The lightweight sustainability-focused blockchain has seen users ranging from shipping industry giant Samsung Heavy Industries (SHI) to a plethora of beer breweries in China.
This makes VeChain one of the top blockchains gaining mainstream adoption. Undeniably, the trend is highly bullish for VET, the native token of the VeChain network.
At present VET is trading in bear territory having dropped 79.9 percent in the year-to-date (YTD) chart. In the last 24 hours, VET fell 8.88 percent to currently be trading at about $0.016. however, market participants remain confident that the token is a great long-term bet.
