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illuminem summarizes for you the essential news of the day. Read the full piece on Carbon Herald or enjoy below:
🗞️ Driving the news: CarbonFree and US Steel have inked a groundbreaking carbon capture agreement, leveraging CarbonFree’s SkyCycle™ technology at US Steel's Gary Works blast furnaces
• This initiative aims to capture and store up to 50,000 metric tons of CO2 annually, with potential for future expansion
🔭 The context: This partnership aligns with US Steel's ambitious objectives to reduce greenhouse gas emissions by 20% by 2030 and attain net-zero emissions by 2050
• It represents a critical step toward greening the steel industry, utilizing captured carbon to produce eco-friendly steel products such as verdeX™
🌍 Why it matters for the planet: By capturing CO2 emissions from industrial sources and converting them into carbon-neutral calcium carbonate, this project can significantly lower Scope 3 emissions across global supply chains, contributing to the reduction of the steel industry's carbon footprint
⏭️ What's next: The construction of the SkyCycle plant at Gary Works is set to begin in summer 2024, with the project expected to be operational by 2026
• The deal extends 20 years post-launch, potentially serving as a model for broader application of carbon capture technologies in carbon-intensive industries
💬 One quote: “US Steel is setting a precedent for how manufacturers can and must proactively manage their carbon emissions, and CarbonFree is honored to play a role in this legacy,” said Martin Keighley, CEO of CarbonFree.
📈 One stat: Up to 50,000 metric tons of CO2 are planned to be captured and stored annually through this initiative.
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