RIINO Inc announces that it has been awarded C$2 million ($1.4 million) in funding from the Northern Ontario Heritage Fund Corporation (NOHFC), helping accelerate the development and testing of its electric rail haulage system to pave the way for its commercialisation in both open-pit and underground mining operations.
“The support from the NOHFC significantly strengthens RIINO’s ability to advance the
development of our electric rail haulage system, addressing critical needs in mining efficiency and emissions reduction,” Aaron Lambert, CEO of RIINO, says. “This grant enables us to expedite essential R&D and testing phases, laying a solid foundation for the commercialisation of our rail system and contributing to a decarbonised mining future.”
RIINO’s electric rail haulage system is designed to replace conventional haulage methods, providing a fully electric alternative that reduces environmental impact while enhancing cost efficiency for mining operators. By focusing on improving operational efficiency and supporting decarbonisation, the system aligns with the mining industry’s environmental, social and governance priorities, the company says.
The company has already struck up partnerships with leading mining companies. Both Agnico Eagle Mines and Vale Base Metals backed an in-depth, four-month scoping study on RIINO, which leverages technology influences from monorails, subway systems and the mechanised raise climber. The company told IM last year that Capstone Copper and mining and forestry equipment service company Soudure Dufer had also joined the consortium focused on progressing the technology.
RIINO is described as an innovative monorail haulage system targeting the reduction of the industry’s carbon emissions and achieving net-zero goals. It is designed to receive its power from the electrical grid which drives the internal, train-mounted motors as well as auxiliary on-board batteries for a complete electric and automated operation.
