Energy Storage, GHG Emissions, Industrial - June 5, 2023
Nucor Corporation Signs Carbon Capture Agreement
Nucor Corporation, a large steel producer, signed an agreement for a carbon capture and storage project, which calls for the capture, transport, and storage of up to 800,000 metric tons per year of CO2.
The company signed on with ExxonMobil, which will capture and store the carbon at its facility in Louisiana.
Nucor Corporation’s manufacturing site produces direct reduced iron, a raw material used to make high-quality steel products including automobiles, appliances, and heavy equipment.
The Nucor project is expected to begin in 2026, using the same CO2 transportation and storage infrastructure as used by its CF Industries project, which will support Louisiana’s objective of achieving net-zero CO2 emissions by 2050.
"This transformative CCS project with ExxonMobil is a key part of our decarbonization strategy and will result in some of the lowest embodied carbon DRI or HBI in North America," said Leon Topalian, Chair, President, and Chief Executive Officer of Nucor Corporation, in a statement. "We are taking a multi-faceted approach to decarbonization, and this partnership builds on previous investments we have made in a carbon-free iron start-up, renewable energy generation, and the development of small modular nuclear reactor technology."
With the circular nature of remelting recycled scrap in electric arc furnaces, Nucor’s steel mills generate about two-thirds less than the carbon dioxide of extractive blast furnace steelmaking plants, which accounts for Scope 3 emissions, including all upstream and downstream emissions in the supply chain.
Nucor is one of the first steel companies to disclose its Scope 3 emissions. This carbon capture and storage agreement with ExxonMobil helps the company build on its strong foundation of steel and steel product production with low embodied carbon.
Read These Related Articles:
Stay Up-To-Date
