CarbonFree and US Steel have signed a Memorandum of Understanding (MoU) to equip the steel manufacturer’s facility in Indiana with carbon capture technology.
CarbonFree’s proprietary SkyCycle technology will enable US Steel to capture as much as 50,000 metric tons of carbon emissions each year from its steel plant in Gary, Indiana, alone.
SkyCycle is a unique technology in that it is modular, scalable and designed to not only capture planet-warming emissions, but also convert them into useful products, such as the specialty chemical precipitated calcium carbonate (PCC).
CarbonFree specializes in the decarbonization of hard-to-abate sectors, such as steel, and is an excellent example of a carbon capture success story.
The company has been on the market for over 15 years and is already profitable thanks to the utilization aspect of its business model, which enables it to mineralize CO2 and sell it to a range of industrial customers.
Furthermore, the technology does not require the presence of certain geological formations or pipeline infrastructure for the storage and transportation, respectively, of the captured emissions, as they can be utilized directly on site.
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The partnership between CarbonFree and U. S. Steel is significant in that, if a final decision is made, it will rescue the carbon footprint of one North America’s largest integrated steel mills with a production capacity of 7.5 million tons of raw steel per annum.
The MoU between the two companies is non-binding and the decision to move forward with the collaboration is expected to be made before the end of 2023.
And if both sides agree, then the carbon capture technology is said to be set up and become operational in 2025 and may potentially lead to collaborations and other US Steel facilities.
Read more: CarbonFree Is Already A Profitable Carbon Capture Business – CEO Martin Keighley
