Automaker Mercedes Benz has partnered with Hydro, one of the largest aluminum companies in the world and a user of VeChainThor.
In a press release, Hydro says the partnership involves supplying Mercedes with low-carbon aluminum. This will help Mercedes reduce the carbon footprint of its fleet of vehicles, including all-electric EQ models.
Hydro and Mercedes have agreed on a technology roadmap
Hydro will supply the first batch of Hydro REDUXA, its low carbon aluminum line with less than 3,0kg CO2/kg, by 2023. The low carbon aluminum line is approved for automotive applications , is reusable and can be used to produce various components.
These include high voltage cables, side sills, crush containers, front impact elements and rear bumpers. Multi-door extrusions, subframes, battery boxes and exterior details such as roof bars and trims can also be produced from this aluminum.
Hydro and Mercedes have agreed on a common low-carbon technology roadmap for 2023-2030. The two companies are also working individually to further reduce the carbon footprint of their operations.
“Mercedes-Benz is a future-oriented company and a perfect partner for Hydro. The ambition to make the entire fleet of new passenger cars CO2-neutral by 2039 matches Hydro's ambition to produce carbon-neutral aluminum on an industrial scale by 2030,” said Hilde Merete Aasheim, President and CEO of Hydro.
Meanwhile, Hydro tracks its carbon footprint through the VeChain Tag.Trace.Trust (TTT)-based solution, developed by classification society DNV. DNV announced the partnership in February 2021, noting it was motivated by the growing need for reliable sustainability data in supply chains.
With the implementation, Hydro's customers have been able to verify the validity, reliability and authenticity of the environmental profile of their products. Furthermore, as TTT is blockchain-based, it prevents data manipulation by DNV, Hydro or third parties.
The adoption of VeChain is good for the VET market
Meanwhile, the VeChainThor blockchain has seen the adoption of many other systems. The lightweight sustainability-focused blockchain has seen users ranging from shipping giant Samsung Heavy Industries (SHI) to a plethora of breweries in China.
This makes VeChain one of the leading blockchains gaining mainstream adoption. It is undeniable that the trend is highly positive for VET, the native token of the VeChain network.
VET is currently trading in bearish territory, having lost 79,9% on the year-to-date (YTD) chart. Over the past 24 hours, VET is down 8,88% and is currently trading at XNUMX quotation about $0,016. However, market participants remain confident that the token is a great long-term bet.
