CarbonFree’s SkyCycle™ Technology Would Capture
and Mineralize up to 50,000 Metric Tons of CO2 Annually from U. S.
Steel’s Facility in Gary, Indiana
United States Steel Corporation (NYSE: X) (“U. S. Steel”) and
CarbonFree Chemicals Holdings, LLC (CarbonFree) have signed a
non-binding Memorandum of Understanding (MoU) to jointly pursue the
capture of CO2 emissions generated from U. S. Steel’s Gary Works
manufacturing plant using CarbonFree’s SkyCycle™ technology. If a
definitive agreement is reached, the project is expected to capture
and mineralize up to 50,000 metric tons of CO2 per year, the
equivalent to carbon emissions from nearly 11,000 passenger
cars.
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SkyCycle, CarbonFree’s second-generation
technology, is a modular, scalable and patented technology designed
to directly capture CO2 emissions from a wide variety of
hard-to-abate industrial emitters. (Photo: Business Wire)
CarbonFree’s patented SkyCycle technology captures carbon
emissions from hard-to-abate industrial sources before entering the
atmosphere, converts the CO2 into the specialty chemical
precipitated calcium carbonate (PCC), and produces hydrochloric
acid (HCl) as a co-product.
“As we aim to widely introduce and scale our technology to
industrial facilities across the globe, we are thrilled for the
possibility of bringing our SkyCycle technology’s carbon capture
capabilities to U. S. Steel’s Gary Works plant, one of the largest
integrated steel mills in North America,” said Martin Keighley, CEO
of CarbonFree. “We are committed to working closely with U. S.
Steel to achieve their sustainability goals and to further our
mission of helping to enable the world’s transition to net zero
carbon emissions.”
Located in Gary, Indiana, U. S. Steel’s Gary Works has annual
production capability of 7.5 million net tons of raw steel per
year. The MoU establishes a framework for discussions regarding the
formation of a commercial venture. The decision between CarbonFree
and U. S. Steel to enter into a definitive agreement is expected to
be made prior to the end of 2023, and if a final agreement is
executed, the parties are targeting 2025 for commencement of
operations. The parties may also consider collaborating on more
carbon capture, utilization and storage projects in the future.
“We are eager to enter the next phase of discussions with
CarbonFree to explore the possibility of meaningful CO2 emission
reductions in our operations in a capital efficient manner,” said
Richard L. Fruehauf, SVP – Chief Strategy & Sustainability
Officer at U. S. Steel. “Working with CarbonFree could be a
meaningful step in our efforts to decarbonize the Gary Works plant
while developing technology and knowhow that we could apply to
other facilities within our footprint. These potential
collaborations are critical to U. S. Steel as we continue our
mission of providing profitable steel solutions for people and
planet.”
SkyCycle technology is modular, scalable and patented and is
designed to directly capture CO2 emissions from industrial
emitters. The technology produces PCC for sale into the global
specialty chemicals market, and calcium carbonate for the
sequestration of CO2. PCC is a high-value product used for a
variety of industrial purposes, including in the manufacturing of
paper, plastics, ceramics, paints, coating, adhesives, sealants,
rubber and cleaning products. Additionally, CO2 that is converted
to calcium carbonate can be permanently stored as an
environmentally friendly mineral.
For more information on SkyCycle, visit the CarbonFree website
or follow on LinkedIn.
###
About U. S. Steel
Founded in 1901, United States Steel Corporation is a leading
steel producer. With an unwavering focus on safety, U. S. Steel’s
customer-centric Best for All® strategy is advancing a more secure,
sustainable future for U. S. Steel and its stakeholders. With a
renewed emphasis on innovation, U. S. Steel serves the automotive,
construction, appliance, energy, containers, and packaging
industries with high value-added steel products such as U. S.
Steel’s proprietary XG3® advanced high-strength steel. U. S. Steel
also maintains competitively advantaged iron ore production and has
an annual raw steelmaking capability of 22.4 million net tons. U.
S. Steel is headquartered in Pittsburgh, Pennsylvania, with
world-class operations across the United States and in Central
Europe. For more information, please visit www.ussteel.com.
About CarbonFree
CarbonFree Chemicals Holdings, LLC is a privately held company.
CarbonFree has invested over 17 years into research and development
to prepare to bring its SkyCycle ™ technology to hard-to-abate
industries around the world. CarbonFree’s mission is to capture 10%
of the world’s industrial carbon, thereby helping industries and
companies reach their net zero goals. For more information about
CarbonFree, visit www.carbonfree.cc.
U. S. Steel Cautionary Note Regarding Forward-Looking
Statements
This release contains information that may constitute
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. U. S. Steel intends
the forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements in those sections.
Generally, U. S. Steel has identified such forward-looking
statements by using the words “believe,” “expect,” “intend,”
“estimate,” “anticipate,” “project,” “target,” “forecast,” “aim,”
“should,” “plan,” “goal,” “future,” “will,” "may" and similar
expressions or by using future dates in connection with any
discussion of, among other things, the construction or operation of
new or existing facilities and operating capabilities, operating or
financial performance, trends, events or developments that U. S.
Steel expects or anticipates will occur in the future, anticipated
cost savings, potential capital and operational cash improvements,
statements regarding U. S. Steel’s future strategies, products and
innovations, statements regarding U. S. Steel’s greenhouse gas
emissions reduction goals, and statements expressing general views
about future operating results. However, the absence of these words
or similar expressions does not mean that a statement is not
forward-looking. Forward-looking statements are not historical
facts, but instead represent only U. S. Steel’s beliefs regarding
future events, many of which, by their nature, are inherently
uncertain and outside of U. S. Steel’s control. It is possible that
U. S. Steel’s actual results and financial condition may differ,
possibly materially, from the anticipated results and financial
condition indicated in these forward-looking statements. U. S.
Steel’s management believes that these forward-looking statements
are reasonable as of the time made. However, caution should be
taken not to place undue reliance on any such forward-looking
statements because such statements speak only as of the date when
made. U. S. Steel undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.
In addition, forward looking statements are subject to certain
risks and uncertainties that could cause actual results to differ
materially from U. S. Steel’s historical experience and its present
expectations or projections. These risks and uncertainties include,
but are not limited to, the risks and uncertainties described in
“Item 1A Risk Factors” in U. S. Steel’s Annual Report on Form 10-K
for the year ended December 31, 2022 and those described from time
to time in its future reports filed with the Securities and
Exchange Commission.
©2023 U. S. Steel. All Rights Reserved
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version on businesswire.com: https://www.businesswire.com/news/home/20230301006203/en/
Media Contacts: Arista Joyner Manager, Financial
Communications U. S. Steel T- (412) 433-3994 E-
aejoyner@uss.com
Phil Chinitz CarbonFree T - (516) 659-9369 E-
media@carbonfree.cc
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