TransitionZero’s Post

Steel manufacturing caused 2.27 BT of CO2e in 2022. The most polluting steel manufacturing plant in the world is the POSCO Gwangyang steel plant in South Korea — the second largest steel plant on Earth. Learn how our colleagues at TransitionZero calculate emissions from steel manufacturing by zooming in on this super emitter. https://lnkd.in/guEfyi5a #SteelManufacturing #Emissions

POSCO transitions to Hydrogen-based Steel Production in Korea POSCO, one of the world’s largest steelmakers, is advancing its carbon neutrality goals by transitioning to hydrogen-based steelmaking. The company has introduced a pilot facility that utilizes hydrogen instead of fossil fuels in the steel production process, significantly reducing carbon emissions. This facility, located at the Pohang Steel Works, produces up to 24 tons of molten iron per day with much lower emissions compared to traditional methods. As POSCO continues to innovate and expand its hydrogen reduction steelmaking capabilities, the company is addressing key challenges such as production costs and power supply needs. Hydrogen pressure vessels typically require KGS certification in order to be approved for import and sale in Korea. POSCO’s long-term vision includes producing 2.5 million tons of steel by 2040 using only hydrogen, with full commercialization of the technology by 2030. Hydrogen pressure vessels typically require KGS certification in order to be approved for import and sale in Korea. #KGS #KGSkorea #KGSfactoryRegistration #KGSfactoryRegistrationKorea #KoreaKGSFactoryRegistration

Did you know that June 9th is designated as 'National Steel Day' in South Korea? It marks a milestone of domestic steel industry's first #blastfurnace produced molten iron, made at the Blast Furnace Pohang No. 1. But #coal-powered blast furnaces do not represent the #greensteel future. Although Pohang Blast Furnace No.1 is no longer operating, there are 11 #coal-powered blast furnaces in South Korea, 8 under POSCO and 3 under Hyundai Steel. In order to align with the Paris Agreement to keep emissions well under 2 degrees (with efforts directed to keeping temperature-rise to under 1.5 degrees), the #steel sector in Korea and globally is under pressure to #decarbonize steel production by phasing-out reliance on coal-based blast furnaces and other fossil-fuels. In order for the industry to transition, harmonized cooperation between #industry and #government is needed, to ensure that public #subsidies support the deployment of innovative steelmaking technologies such as #greenhydrogen steelmaking (H2DRI) and the necessarily infrastructure, such as green hydrogen and renewable energy. Tae-Joon Park, the founder-CEO of Pohang Iron and Steel Company (now POSCO), was famously quoted at the groundbreaking ceremony for Pohang Steelworks on April 1, 1970, to say “We are building the integrated steelworks on the blood of our ancestors. If we fail, we will be committing a sin that can never be forgiven. So, we must pledge to turn ‘right face’ and drown ourselves in Yeongilman Bay if we are unable to complete this project.” The sentiment is captured in the statue (pictured below), right-arm raised, that can be seen at the Gwangyang Steelworks, which is the largest integrated steelworks in the world and was completed after POSCO's Pohang plant. There is no going back from decarbonization. Will June 9th in the coming years see the rise of POSCO's green hydrogen-based #HyREX as the icon of the future? #SteelDecarbonization #KoreanSteelIndustry #POSCO #HyundaiSteel

Thanks to the Pilbara Summit for the opportunity to take part in a panel discussion on "Future Made in Australia" policies. We are in a race to attract the capital and the projects that will #decarbonise industries and supply chains. That's why the "Future Made in Australia" plans are a great first step. But Australia shouldn't just focus on what we can make here. We should look carefully at what our major trading partners want from us and Australia's important role in decarbonising supply chains. So we should be working much more closely with companies such as POSCO as it seeks to decarbonise the steel industry. POSCO's plan for a hot briquetted iron project in Port Hedland has the potential to be transformational for the Pilbara. Instead of shipping the iron ore overseas, Australia would manufacture #greeniron closer to the source of #renewables and #hydrogen. Producing green iron would solve Australia's problem of declining iron ore grades. Looking forward to "Future Made in Australia" policies kickstarting Australia's #greeniron industry and supporting POSCO's HBI project ambitions. #decarbonization #futuremadeinaustralia #greensteel #netzero #korea #수소 #재생에너지 #넷제로 #pilbara #westernaustralia

Korean Steelmaker Posco to Invest $22bn in Clean Steel and Blue Hydrogen by 2030 The company plans to spend $14.6bn on a new #H2 steel facility in #Pohang Korean steelmaker POSCO has unveiled plans to invest 121trn ($88bn) by 2030 in new #emissions-reduction projects, including 29trn won ($21.2bn) in cleaner steel and a further 1trn won ($730.4m) in #blue #hydrogen — and has won the backing of the Korean government, which owns almost 9% of the company’s shares. In addition, the group plans to invest 20trn won ($14.6bn) in new #clean #steel facilities in the city of Pohang, in the southeast of the country, which will eventually include three direct-iron-reduction (#DRI) facilities (in which hydrogen is used to extract iron from ore) and an electric-arc furnace. A second DRI plant, in the southern port city of Gwangyang, is also planned, at a cost of 40trn won ($29.2bn), to be completed by 2050. https://lnkd.in/dqAQKY89

#SouthKorea's largest #steelmaker, POSCO, has unveiled a pilot steelmaking plant that runs on #hydrogen rather than #fossilfuels. This is reported by KED Global. The pilot plant at the Pohang facility has a production capacity of 24 tons of molten iron per day, emitting 400 kg of #carbon per ton, which is significantly lower than at existing fossil fuel-based #steel mills. The company expects the facility to become carbon-free after the transition to #renewableenergy. Read more - https://lnkd.in/gtHXKujf #steelindustry #steelmaking

“Japan’s largest #steelmaker to invest billions of yen into #hydrogen -based #directironreduction” “Nearly 60% of the bill will be footed by the Japanese government” Polly Martin - 15 April 2024 “Nippon Steel, the largest steelmaker in Japan, is set to invest ¥38.4bn ($250m) into the development of highly efficient hydrogen-based direct iron reduction and #electricarcfurnaces to drastically cut #emissions from #steelproduction .” “The move by Nippon Steel may be a reaction to plans by the EU — a major #steelimporter — to start taxing imports according to their lifecycle #greenhousegasemissions from 2026 as part of the bloc’s #CarbonBorderAdjustmentMechanism , which is expected to drive steelmakers outside its borders towards #greener alternatives to #blastfurnaces .” https://lnkd.in/eWJa2x2e Source- original post Read all my posts #MariusPreston

Korean steelmaker Posco to invest $22bn in clean steel and blue hydrogen by 2030 The company plans to spend $14.6bn on a new H2 steel facility in Pohang Korean steelmaker Posco has unveiled plans to invest 121trn ($88bn) by 2030 in new emissions-reduction projects, including 29trn won ($21.2bn) in cleaner steel and a further 1trn won ($730.4m) in blue hydrogen — and has won the backing of the Korean government, which owns almost 9% of the company’s shares. In addition, the group plans to invest 20trn won ($14.6bn) in new clean steel facilities in the city of Pohang, in the southeast of the country, which will eventually include three direct-iron-reduction (DRI) facilities (in which hydrogen is used to extract iron from ore) and an electric-arc furnace. A second DRI plant, in the southern port city of Gwangyang, is also planned, at a cost of 40trn won ($29.2bn), to be completed by 2050. https://lnkd.in/dqAQKY89

#POSCO #GreenSteel It seems that the move towards green steel production has caused movement in the value chain of steel production. So miners are also looking to use new tools in this field.

"While #China has promised to take action to tackle emissions from the sector, it is lagging on targets to replace #coal-fired blast furnaces with cleaner electric arc furnace (#EAF) technology, which uses recycled #scrap rather than #IronOre as a raw material. Beijing set a goal to produce 15% of its crude #steel using the EAF route by 2025, and to raise the share to 20% by the end of the decade. But the share of EAF-produced steel stood at just 10% last year, inching up from 9.7% a year earlier, according to David Cachot, research director at consultancy Wood Mackenzie. China's existing EAF capacity of around 150 million metric tons would be enough to meet the 15% target, but utilisation rates have remained low, U.S. think tank Global Energy Monitor (GEM) said in a report published on Tuesday." #Ferrous #FerrousScrap #SustainableDevelopment #Carbon #CarbonEmissions #Steelmaking #GreenSteel