Companies to Initiate FEED Study on Autothermal
Reforming (ATR) Ammonia Facility
CF Industries Holdings, Inc., the world’s largest producer of
ammonia, and POSCO Holdings Inc. (POSCO), South Korea’s largest
steelmaker as well as a leader in energy trading and power
generation, announced today that the companies are evaluating a
joint venture to construct a low-carbon clean ammonia plant at CF
Industries’ Blue Point Complex in Ascension Parish, Louisiana,
United States, along with long-term low-carbon clean ammonia
offtake into South Korea.
As part of their evaluation, CF Industries and POSCO will
initiate a front-end engineering and design (FEED) study on
autothermal reforming (ATR) ammonia production technology. ATR
technology, when combined with carbon capture and sequestration
(CCS), is expected to reduce carbon dioxide (CO2) emissions from
the ammonia production process by more than 90% compared to
conventional ammonia plants without CCS, enabling the resulting
low-carbon clean ammonia to comply with the South Korean
government’s Clean Hydrogen Energy Portfolio Standard.
Should the project move forward, POSCO expects to import
low-carbon clean ammonia from the facility to South Korea to
support decarbonization of POSCO's own and third-party coal-based
power generation facilities. Additionally, POSCO intends to convert
low-carbon clean ammonia into hydrogen in order to use low-carbon
hydrogen in gas-based power plants and in the steel-making process
itself.
“We are pleased to collaborate with POSCO to support both their
decarbonization goals as well as those of South Korea,” said Tony
Will, president and chief executive officer, CF Industries
Holdings, Inc. “POSCO’s concrete plans to use low-carbon ammonia to
accelerate decarbonization in steel manufacturing and power
generation in South Korea represent significant new demand for
low-carbon ammonia as a clean energy source. We look forward to
leveraging our two companies’ industry-leading expertise to advance
our shared commitment to a more sustainable future.”
Yoo Byeong-ok, Chief Green Materials & Energy Business
Officer at POSCO Holdings, stated, "The United States is one of the
key strategic regions for POSCO Group as it is actively pursuing
the establishment of an economically and reliably overseas hydrogen
and ammonia supply network through the IRA support policy." He
further explained, "We plan to establish a production hub for clean
ammonia in the United States in collaboration with CF Industries,
the largest ammonia producer, and secure a stable supply network to
timely provide clean hydrogen necessary for domestic power
generation and hydrogen reduction steelmaking."
The FEED study is expected to be completed in the second half of
2024, with a final investment decision by CF Industries and POSCO
to follow.
Since 2020, CF Industries has advanced industry-leading projects
to decarbonize its ammonia production network and position the
Company to supply a substantial volume of low-carbon clean ammonia
within the next few years. This includes leveraging CCS
technologies at its Donaldsonville Complex where CF Industries is
constructing a CO2 dehydration and compression facility to enable
the capture and permanent sequestration of up to 2 million tons of
CO2 per year with ExxonMobil, starting in 2025. The Company has
also commenced a front-end engineering and design study with Mitsui
& Co., Ltd. to construct a greenfield low-carbon clean ammonia
facility utilizing steam methane reforming (SMR) ammonia technology
along with CCS at its Blue Point Complex in Louisiana.
Additionally, CF Industries is constructing North America’s first
commercial scale green ammonia capacity at its Donaldsonville
Complex, enabling up to 20,000 tons of green ammonia production
beginning in 2024.
About CF Industries Holdings,
Inc.
At CF Industries, our mission is to provide clean energy to feed
and fuel the world sustainably. With our employees focused on safe
and reliable operations, environmental stewardship, and disciplined
capital and corporate management, we are on a path to decarbonize
our ammonia production network – the world’s largest – to enable
green and blue hydrogen and nitrogen products for energy,
fertilizer, emissions abatement and other industrial activities.
Our manufacturing complexes in the United States, Canada, and the
United Kingdom, an unparalleled storage, transportation and
distribution network in North America, and logistics capabilities
enabling a global reach underpin our strategy to leverage our
unique capabilities to accelerate the world’s transition to clean
energy. CF Industries routinely posts investor announcements and
additional information on the Company’s website at
www.cfindustries.com and encourages those interested in the Company
to check there frequently.
About POSCO Holdings,
Inc.
Posco Group plans to establish a "clean hydrogen business model"
by leveraging the capabilities of its subsidiary companies engaged
in various aspects of hydrogen production, transportation, storage,
and utilization, aiming to establish a hydrogen production capacity
of 7 million tons by 2050. In order to achieve this, Posco Holdings
is actively promoting the development of various green and blue
hydrogen projects, with a focus on strategic regions such as
Australia, the Middle East, Southeast Asia, and North America.
Cautionary Statement: All statements in this
communication by CF Industries Holdings, Inc. (together with its
subsidiaries, the “Company”), other than those relating to
historical facts, are forward-looking statements. Forward-looking
statements can generally be identified by their use of terms such
as “anticipate,” “believe,” “could,” “estimate,” “expect,”
“intend,” “may,” “plan,” “predict,” “project,” “will” or “would”
and similar terms and phrases, including references to assumptions.
Forward-looking statements are not guarantees of future performance
and are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the Company’s control,
which could cause actual results to differ materially from such
statements. These statements may include, but are not limited to,
statements about strategic plans and management’s expectations with
respect to the production of green and blue (low-carbon) hydrogen
and ammonia, the development of carbon capture and sequestration
projects, the transition to and growth of a clean energy economy,
greenhouse gas reduction targets, projected capital expenditures,
statements about future financial and operating results, and other
items described in this communication.
More detailed information about factors that may affect the
Company’s performance and could cause actual results to differ
materially from those in any forward-looking statements may be
found in CF Industries Holdings, Inc.’s filings with the Securities
and Exchange Commission, including CF Industries Holdings, Inc.’s
most recent annual and quarterly reports on Form 10-K and Form
10-Q, which are available in the Investor Relations section of the
Company’s web site. It is not possible to predict or identify all
risks and uncertainties that might affect the accuracy of our
forward-looking statements and, consequently, our descriptions of
such risks and uncertainties should not be considered exhaustive.
There is no guarantee that any of the events, plans or goals
anticipated by these forward-looking statements will occur, and if
any of the events do occur, there is no guarantee what effect they
will have on our business, results of operations, cash flows,
financial condition and future prospects. Forward-looking
statements are given only as of the date of this communication and
the Company disclaims any obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230914905786/en/
Media Chris Close Senior Director, Corporate
Communications 847-405-2542 – cclose@cfindustries.com
Investors Darla Rivera Director, Investor Relations
847-405-2045 – darla.rivera@cfindustries.com
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