Alliance Resource Partners, L.P. ARLP announced that its subsidiary Matrix Design Group, LLC and Infinitum have signed an agreement to jointly develop and distribute high-efficiency, reliable motors and advanced motor controllers, designed specifically for the mining industry.
In the last 15 years, Matrix has emerged as a leader in the fields of proximity detection and collision avoidance, offering productivity and safety solutions to several mining companies, including Alliance Resource, while also expanding its market reach into other industrial settings outside the United States.
This partnership with Infinitum is a natural progression and extension of Alliance Resource’s long-term investment in the company.
Details of the Agreement
As part of the agreement, Matrix will incorporate Infinitum's lighter, smaller motor technology into the mining equipment of ARLP's operating subsidiaries in order to validate the jointly produced products' performance. Apart from providing assistance with installations at ARLP operations, Matrix intends to provide the products to third-party mining customers worldwide.
With its patented motor technology, Infinitum will be able to replace heavy, conventional iron-core motors with a motor system that is 50% lighter, uses 66% less copper and 10% less energy. This will provide mining companies and equipment manufacturers with a more reliable and efficient option.
Will This Technology Help Coal Mining Industry?
The innovative motor technology will help revolutionize the mining industry by providing more efficient and high-performing production equipment that will allow the companies to improve mining operations, lower operating costs and increase productivity.
However, per U.S. Energy Information Administration (EIA), the demand for coal will decline due to the usage of more renewable assets and a gradual shutdown of coal-powered generation units, hurting the prospects of the coal industry.
Coal production in the United States is expected to decline in 2024 and 2025. EIA expects U.S. coal production to drop 16% in 2024 to 489 million short tons (MMst) and then decline a further 12% in 2025 to 429 MMst. The decrease in production is due to an expected reduction in coal usage in electricity production. This would be a blow to the coal industry, which is facing an intense battle against other clean sources of energy.
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