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ARCELORMITTAL

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ArcelorMittal : and SEKISUI CHEMICAL announce carbon recycling partnership

07/20/2021 | 01:16am EDT

ArcelorMittal and SEKISUI CHEMICAL today announce they are partnering on a project to capture and re-use carbon waste gases from the steelmaking process, which holds the potential to reduce dependence on fossil resources and contribute to the decarbonisation of steelmaking.

In the project CO2, which would otherwise have been emitted, will be separated and recovered from carbon-rich waste gas from the steelmaking process. An innovative chemical process, developed by SEKISUI CHEMICAL in Japan, then converts the waste CO2 into carbon monoxide rich Synthesis Gas (carbon monoxide and hydrogen). The Synthesis Gas is then returned to the steelmaking process as an alternative reduction agent for iron ore, thereby lowering the volume of fossil resources required in the steelmaking process.

Key to this work is SEKISUI CHEMICAL's innovative technology that converts CO2 to carbon monoxide at high yield. To date, producing carbon monoxide in large volumes from CO2 has been very challenging. SEKISUI CHEMICAL aims to demonstrate the ability to scale up its new technology through this partnership with ArcelorMittal.

The technology will initially be trialled over a three-year period at one of ArcelorMittal's research and development laboratories located in Asturias, Spain, commencing in the third quarter of 2021. The investment cost of the project is USD1.9 million.

Pinakin Chaubal, Chief Technology Officer at ArcelorMittal, said:

'This is an exciting albeit early stage technology which complements our existing carbon capture and re-use or storage technology (CCUS) initiatives. Successfully decarbonising steelmaking will involve multiple technologies and we expect CCUS technologies to have an important role to play. This view is shared by the International Energy Agency which said in its recent 'Net Zero by 2050' report that CCUS technologies will be attached to over 50% of steel production by 2050.'

Katsunori Mukai, Director of Corporate R&D at SEKISUI CHEMICAL said:

'SEKISUI CHEMICAL has been developing basic technologies for sustainable societies. One of them is focussed on giving 'LIFE to CO2' by enabling carbon recycling in manufacturing industries. In this inter-industry partnership with ArcelorMittal, we are aiming to help reduce the carbon emissions of the steel industry.'

ArcelorMittal has a target of reducing CO2 emissions in Europe by 30 per cent by 2030 and producing carbon-neutral steel group-wide by 2050. To this end, ArcelorMittal is pioneering two breakthrough carbon-neutral technology pathways, Smart Carbon and Innovative-DRI. Within its Smart Carbon pathway, ArcelorMittal is already developing and deploying other carbon capture and re-use technologies including Carbalyst, a €165 million project in Ghent, Belgium, which converts carbon-rich steelmaking waste gases into bio-ethanol, and IGAR, an industrial-scale pilot project in Dunkirk, France, to capture waste CO2 and waste hydrogen from the steelmaking process and convert it into synthetic gas to replace the use of fossil fuel in steelmaking.

ENDS

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 17 countries. In 2020, ArcelorMittal had revenues of $53.3 billion and crude steel production of 71.5 million metric tonnes, while iron ore production reached 58.0 million metric tonnes. Our goal is to help build a better world with smarter steels. 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 electric vehicles and 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. This is what we believe it takes to be the steel company of the future. 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). For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/

About SEKISUI CHEMICAL

Headquartered in Japan, SEKISUI CHEMICAL CO. LTD and its subsidiaries make up the SEKISUI CHEMICAL GROUP. SEKISUI CHEMICAL has 26,577 employees in over 199 companies throughout 20 countries. In 2020 it had revenues of around $10 billion USD. Thanks to a history of innovation, dedication and a pioneering spirit, SEKISUI CHEMICAL now holds leading positions in its three diverse business divisions, as well as the top global market shares in interlayer films, foam products, conductive particles, and other areas. Since its establishment in 1947, the SEKISUI CHEMICAL GROUP has dedicated itself to social and environmental contribution and is now an internationally recognised leader in sustainability and environmental initiatives. SEKISUI CHEMICAL was recently selected as one of the Global 100 most sustainable companies. For more information on SEKISUI CHEMICAL, please visit: https://www.sekisuichemical.com/

Disclaimer

ArcelorMittal SA published this content on 20 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2021 05:15:05 UTC.


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Number of Analysts 18
Last Close Price 29,34 $
Average target price 45,96 $
Spread / Average Target 56,6%
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Aditya Mittal Chief Executive Officer & Director
Genuino M. Christino Chief Financial Officer & Executive Vice President
Lakshmi Niwas Mittal Executive Chairman
Pinakin Chaubal Chief Technology Officer
Henk Scheffer Secretary & Group Compliance Officer
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