Leading US steel manufacturer Steel Dynamics Inc has announced the creation of a strategic joint venture with Aymium, a leading producer of renewable biocarbon products of which Steel Dynamics owns 55% and Aymium owns the remaining 45%.
The joint venture will operate under the name SDI Biocarbon Solutions. Initial plans include the construction and operation of a biocarbon production facility to supply Steel Dynamics’ electric arc furnace steel mills with a renewable alternative to fossil fuel carbon using Aymium’s patented technology.
The initial production capability of the facility is expected to be more than 160kt/yr (metric tons) for an estimated capital investment of between $125 million to $150 million. The facility is scheduled to commence operations in late 2023.
Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States, based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States, and in Mexico. The company produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant bar products, specialty steel sections and steel joists and deck. In addition, the company produces liquid pig iron and processes and sells ferrous and non-ferrous scrap.
“We are proud to help accelerate our collective goal to reduce greenhouse gas emissions through this further partnering with Aymium.”Mark Millet, president and CEO of Steel Dynamics.
“We are proud to help accelerate our collective goal to reduce greenhouse gas emissions through this further partnering with Aymium,” stated Mark Millett, chairman, president, and chief executive officer of Steel Dynamics. “We believe this strategic joint venture will significantly reduce our steelmaking greenhouse gas emissions, which are already materially lower than our global competitors, in a cost-effective manner. We also believe Aymium’s process can provide a renewable fossil fuel carbon alternative for Iron Dynamics, our proprietary ironmaking operations. We have successfully trialed Aymium’s biocarbon product in our steel operations, and conservatively estimate this first facility will reduce our Scope 1 steelmaking greenhouse gas emissions intensity between 20 and 25%, with potential upside from the use of the facility’s biogas. Our commitment to all aspects of sustainability is embedded in our founding principles — valuing our teams, our partners, our communities, and our environment. This investment represents a significant step forward on our path to carbon neutrality, and our continued commitment to reduce our environmental footprint.”
“Our mission is to accelerate the transition away from fossil fuels and reduce the impact on the environment."James Mennell, CEO, Aymium.
“Our mission is to accelerate the transition away from fossil fuels and reduce the impact on the environment,” said James Mennell, Aymium Chief Executive Officer. “Aymium’s renewable biocarbon products allow for immediate replacement of fossil fuels with renewable, carbon negative inputs, without the need to modify existing manufacturing processes or equipment. We are excited to partner with Steel Dynamics with its proven leadership in innovative, efficient, low-carbon steelmaking.”
Aymium produces high value biocarbon and biohydrogen products that can be used to immediately replace fossil fuels in the production of metals, energy, crops, and in the purification of water and air with no modifications to equipment or processes.
Produced using sustainably sourced biomass – recovered and unusable wood – Aymium’s bioproducts are renewable, carbon-negative and replace emission-heavy fossil fuels such as coal and coke. The company’s technology is backed by more than 300 issued or pending patents on a global basis.