Posted on 01/27/2023 10:31:22 PM PST by Olog-hai
The manufacture of “green steel” moved one step closer to reality Friday as Massachusetts-based Boston Metal announced a $120 million investment from the world’s second-largest steelmaker, ArcelorMittal.
Boston Metal will use the injection of funds to expand production at a pilot plant in Woburn, near Boston, and help launch commercial production in Brazil. The company uses renewable electricity to convert iron ore into steel.
Steel is one of the world’s dirtiest heavy industries. Three-quarters of world production uses a traditional method that burns through train loads of coal to heat the furnaces and drive the reaction that releases pure iron from ore.
Making steel releases more climate-warming carbon dioxide than any other industry, according to the International Energy Agency — about 8% of worldwide emissions. Many companies are working on alternatives. […]
Instead of burning coal, their process runs electricity through iron ore in a metal box or “cell” the size of a school bus to separate the iron from the oxide. Operators then collect the liquid iron from the bottom, Carneiro said. Boston Metal said it can eliminate all carbon dioxide from its steel production and hopes to ramp up production to millions of tons by 2026. As a bonus, it said, it is able to extract metals from slag normally considered waste. …
(Excerpt) Read more at apnews.com ...
Another MIT startup.
What do they want, to increase the cost of steel 10 fold? What are we to do, drive around in thatched roofed automobiles made of fronds and wattle?
Yes. And electricity.
The Amish are real forward thinkers.
Just say ‘Green” and make a bunch of money.
It is like “Organic”. You get to charge more for the same thing.
This message was “Carbon Free”.....
Let me know when they get ready to make Rearden Metal.
This is dumb and harebrained on steroids. Woburn is a nice suburb. Any pilot plant will have to be so small as to be meaningless. This is just a glorified science project. Called lets use lots of electricity to melt fairy non-conductive iron ore.
The people behind this know this is a useless demonstration project. But they are not going to turn down tens of millions in free Federal money.
Correction -— ArcelorMittal. is blowing 120 million here. Not the Feds.
‘...renewable electricity...’
is that AP bee-ess for solar panels?
that’s A(ll)P(ropaganda) style alright.
“expand production at a pilot plant in Woburn, near Boston, and help launch commercial production in Brazil.” So the real ork goes to Brazil because they will not have enough power in MA.
>> Massachusetts-based Boston Metal
LMFAO
More of the “consultant class” mopping up that Free Gubmint Money.
That will buy a lot of green paint!
“Instead of burning coal, their process runs electricity through iron ore in a metal box or “cell” the size of a school bus to separate the iron from the oxide.”
And most of the electricity comes from oil and coal. How stupid can people be. Once again.
Organic iron has properties very similar to steel, and many Demonrats are willing to pay 50% more for it, especially if the organic component comes from naturally compressed plants, ferns, and trees.
Considering that the world has gone bat guano crazy, a clever corporation would play all the angles (i.e., appearing to support "green steel") without actually spending a dime.
If he actually spends money on green steel, it is because he expects to make it back elsewhere (or get reimbursed indirectly by the government).
You are right. A green investment announcement with the money coming in in dribs and drabs....maybe. Have you ever wondered how much court ordered restitution actually gets paid?....lolzz
It's going to cost a lot of "green"!
Since money is fungible....
No way I will live in something made that’s green. Would rather live in a building made with Chinese steel.
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