Synopsis: South Korean steel titan Posco intensifies its carbon neutrality pledge by innovating with HyREX technology, cutting emissions by 97%. With a dedicated team and strategic restructuring, Posco eyes commercializing HyREX by 2030 and transitioning from blast furnaces by 2050. Initiatives like electric arc furnaces further Posco's commitment to sustainable steel production.
Article:
Posco, the South Korean steel giant, is doubling down on its commitment to carbon neutrality by 2050 through the adoption of its revolutionary HyREX technology, marking a significant step towards sustainable steel manufacturing.
In a strategic move, Posco established a specialized team dedicated to achieving carbon neutrality in 2022, now elevated to a strategic office led by engineering specialist Kim Hee. This signifies the company's concerted efforts to drive innovation across technologies, materials, and infrastructures.
Traditional steelmaking processes, reliant on coal in blast furnaces, are notorious for their heavy greenhouse gas emissions. Posco's HyREX technology, utilizing hydrogen instead of coal, slashes carbon emissions by an impressive 97%.
To expedite the adoption of HyREX, Posco established a dedicated team in January this year, tasked with overseeing its research, development, and eventual commercialization by 2030, with plans to replace blast furnaces entirely by 2050.
In parallel, Posco has initiated low-carbon production using electric arc furnaces, delivering a substantial 75% reduction in carbon emissions compared to traditional methods.
Construction of an electric arc furnace at Posco's Gwangyang facility commenced on Feb. 6 this year, with an annual production capacity of 2.5 million metric tons. With an investment of $463.3 million, the furnace is set to be fully operational by 2026.
Posco's strategy involves utilizing molten iron from electric arc furnaces or integrating it with blast furnace output to produce steel, optimizing energy efficiency by utilizing high-temperature exhaust gases to preheat scrap.
A Posco official emphasized the company's commitment to fulfilling its 2050 carbon neutrality goal, meeting global demand for low-carbon products, and ensuring future competitiveness in global markets.
Conclusion:
Posco's unwavering dedication to achieving carbon neutrality by 2050 underscores its leadership in sustainable steel manufacturing. With groundbreaking initiatives like HyREX technology and the adoption of electric arc furnaces, Posco is not only reducing its environmental footprint but also setting new benchmarks for the global steel industry.
Source: STEELGURU
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