Metal One Corporation and Clean Energy Systems have announced an agreement to deploy CES’ proprietary carbon capture technology to accelerate the decarbonisation of the global steel industry. Metal One has made initial funding to CES, and the parties will immediately work to promote the use of green steel across all industries, helping major corporations that have pledged to achieve net zero carbon emissions.
Concurrently, Metal One and CES will work to decarbonise traditional steel manufacturing plants by utilizing existing onsite captive fuel sources with full carbon capture. “We have developed and operated our pressurized oxy-combustion technologies for thousands of hours at commercial scale,” said Keith Pronske, President and CEO of CES. “Our technology fits perfectly for using problematic fuels to decarbonise critical industries such as steel at commercial scale today. By partnering with Metal One with their global presence, we’ll be able to access the global steel market exponentially faster than we could achieve on our own.”
“We are very pleased to make this agreement with CES. Through this alliance Metal One wants to contribute to the decarbonisation of the global steel industry” said Takeo Nukui, Executive Officer of the Global Marketing & Energy Project Business Division of Metal One.
Global steelmaking emits more than three billion tons of carbon dioxide each year, representing approximately eight per cent of global carbon emissions. It is the industrial material with the greatest impact on carbon emissions. By collaborating on carbon reduction in the steelmaking industry, Metal One and CES will work to reduce carbon emissions at the source and will promote and develop green steel for use in a variety of industries, including construction, shipbuilding, and renewable and conventional energy facilities.
As part of the agreement, Metal One is providing development funding to CES, and the parties will co-locate resources to efficiently target the global steel market.