We’ll seize, transport and retailer as much as 800,000 metric tons per 12 months of CO2 from Nucor’s manufacturing website in Convent, Louisiana. The location produces direct lowered iron (DRI), a uncooked materials used to make high-quality metal merchandise together with vehicles, home equipment and heavy gear.
It additionally marks a milestone – bringing the whole CO2 we’ve agreed to move and retailer for third-party prospects to five million metric tons per 12 months (MTA). That’s equal to changing roughly 2 million gasoline-powered vehicles with electrical automobiles*, which is roughly equal to the whole variety of EVs on US roads at present.
“Our settlement with Nucor is the newest instance of how we’re delivering on our mission to assist speed up the world’s path to internet zero and construct a compelling new enterprise,” mentioned Dan Ammann, president of ExxonMobil Low Carbon Options. “Momentum is constructing as prospects acknowledge our skill to resolve emission challenges at scale.”
The Nucor venture, anticipated to begin up in 2026, will tie into the identical CO2 transportation and storage infrastructure as utilized by our CF Industries venture, and helps Louisiana’s goal of reaching net-zero CO2 emissions by 2050.
As outlined in our current Low Carbon Solutions Spotlight event, we’re centered on growing and deploying emissions options for the energy-intensive sectors of the financial system, together with industries like metal.
For extra details about ExxonMobil Low Carbon Options, click here.
*ExxonMobil evaluation primarily based on assumptions for U.S. in 2022, together with common distance traveled, gas effectivity, common energy grid carbon depth, electrical car charging effectivity and different elements. Gasoline-powered vehicles embody light-duty automobiles (vehicles, gentle vans and SUVs).