ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Trial Carbon Capture Unit Begins Operating on Blast Furnace at ArcelorMittal Gent, Belgium



TOKYO, May 22, 2024 - (JCN Newswire) - ArcelorMittal and partners Mitsubishi Heavy Industries, Ltd. (MHI), BHP, along with Mitsubishi Development Pty Ltd (Mitsubishi Development) have successfully started operating a pilot carbon capture unit on the blast furnace off-gas at ArcelorMittal Gent in Belgium.

The pilot carbon capture unit will operate for one to two years at Gent, to test the feasibility of progress to full-scale deployment of the technology, which would be able to capture a sizeable portion of the Gent site emissions, if successful. Engineers have been working on site since January to assemble and commission the unit.

In October 2022, the four parties announced their collaboration on a multi-year trial of MHI's carbon capture technology (Advanced KM CDR Process™) at multiple carbon dioxide (CO2) emission points, starting at the Gent steelmaking site. The pilot carbon capture unit will be testing initially with blast furnace and reheating furnace gas and has the potential to be trialled to capture steelmaking gases such as reformer flue gas from a Direct Reduced Iron (DRI) plant.

The development of the carbon capture solution at Gent could feed into multiple CO2 transport and storage projects under development in the North Sea region and contribute to global technological solutions required for decarbonisation of steel production. The EU has an objective to achieve an annual CO2 storage capacity of 50 million tonnes by 2030, proposed under the Net-Zero Industry Act. Moreover, the International Energy Agency (IEA) estimates CCUS technology needs to apply to more than 37 per cent of primary steel production by 2050, equivalent to 399 Mtpa of CO2, for the Net Zero Emissions scenario (Source: IEA Net Zero Roadmap - 2023 update).

To further understand how MHI's carbon capture technology can be incorporated into existing steel plants, ArcelorMittal is facilitating the trial in Gent, Belgium, with MHI supplying its proprietary carbon capture technology and supporting the engineering studies. BHP and Mitsubishi Development, as key suppliers of high-quality steelmaking raw materials to ArcelorMittal's European operations, are supporting trial funding.

Speaking in Gent at the consortium meeting, ArcelorMittal Belgium's CEO, Manfred Van Vlierberghe, said "ArcelorMittal Belgium's decarbonisation efforts can be summarized in three axes. The first axis focuses on energy efficiency: reuse of waste heat and renewable energy. In our second axis, we are replacing coal with a combination of gas and electrification. And finally, the third axis, is based on circular use of carbon - CCU and CCS. Here, the installation of the carbon capture unit on our Gent blast furnace is a great example. The main ambition is to achieve completely carbon-free processes. A radical change is difficult, so we embrace every step that takes us towards our goal."

MHI's Senior Vice President (CCUS) of GX (Green Transformation) Solutions, Tatsuto Nagayasu, said "The launch of this pilot carbon capture unit marks a significant milestone on the iron and steel industry's journey toward net-zero emissions. As a provider of innovative technologies, we are thrilled to witness our solutions in action, helping to decarbonize existing assets. We eagerly anticipate further deploying our technologies to achieve this goal."

BHP Group Sales & Marketing Officer Michiel Hovers said "This represents real progress in proving up the feasibility of carbon capture for steel production, and BHP is delighted to be part of this consortium working on the pilot plant. This work could help develop a technology that may significantly lower CO2emissions intensity from the blast furnace which remains critical to meet steel demand, and while other pathways are further matured."

Mitsubishi Development Chief Executive Officer, Kenichiro Tauchi said "This pilot is a significant step towards advancement of carbon capture technology as a potential solution to achieve solid emission reductions in the steel sector. We will continue to demonstrate our commitment to advancing confidence in reducing emissions in hard to abate industries as we move towards achieving a carbon neutral society."

The trial at Gent will have two phases. The first phase involves separating and capturing the CO2 from the top gas from the blast furnace at a rate of around 300kg of CO2 a day - a technical challenge due to the differing levels of contaminants in the top gas. The second phase involves testing the separating and capturing of CO2 in the off-gases in the hot strip mill reheating furnace, which burns a mixture of industrial gases including coke gas, blast furnace gases and natural gas.

Members of the project team for ArcelorMittal, BHP, MDP and MHI visiting the pilot plant in Gent, Belgium

About ArcelorMittal

ArcelorMittal is one of the world's leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 15 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2023 generated revenues of $68.3 billion, produced 58.1 million metric tonnes of crude steel and, 42.0 million tonnes of iron ore. Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

About BHP

BHP is a leading global resources company with approximately 80,000 employees and contractors, primarily in Australia and the Americas. BHP's products are sold worldwide, and it is among the world's top producers of major commodities, including iron ore, copper, nickel, and metallurgical coal. Read more about our approach to climate change: www.bhp.com/climate

About Mitsubishi Development

Mitsubishi Development Pty Ltd has contributed to global industries for more than 50 years through its developments in the mineral resources sector and is a wholly owned subsidiary of Mitsubishi Corporation, one of Japan's premier general trading and investment organisations with more than 80,000 employees globally.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world.

Please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.

]]>

Source: Mitsubishi Heavy Industries, Ltd.

Copyright 2024 ACN Newswire . All rights reserved.

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.