U. S. Steel Corporation announced that its new electrical steel product, InduX, will begin production at its Big River Steel facility in the summer of 2023 with the commissioning of its new non-grain oriented (NGO) electrical steel line.
nduX electrical steel is a very wide, ultra-thin, and light-weight steel, having all the magnetic properties necessary for electric vehicles (EV), as well as generators and transformers. In an EV, the better the magnetic properties, the better the motor efficiency, and the more mileage a vehicle can achieve. By producing InduX™ steel in the United States, U. S. Steel is making a significant investment in American jobs and bolstering the resilience of the country’s domestic supply chain.
InduX steel will be produced on the new NGO electrical steel line at Big River Steel in Osceola, Arkansas. NGO line construction is currently underway, and when fully operational, will produce up to 200,000 tons of InduX steel per year. Total expected capital expenditures for the NGO line of approximately $450 million is funded by cash generated from Big River Steel.
Also Read: 3D Systems Selects 6K Additive as the Supplier for Tungsten Powder for its DMP Printers
The product unveiling was made during the Corporate Climate Leadership panel at the Ceres Global conference in New York City. U. S. Steel Senior Vice President and Chief Strategy and Sustainability Officer, Richard L. Fruehauf, joined others who emphasized the need for partnerships in advancing decarbonization efforts.
“We know achieving our goal of net-zero GHG emissions by 2050 requires extraordinary action from everyone, and we are doing our part by collaborating to find new business approaches and to develop new technologies,” said Fruehauf. “Moreover, steel’s adaptability and near-infinite recyclability make it the ideal material to build safe, modern, and sustainable societies.”
U. S. Steel was the first North American headquartered steel company to announce a 2050 net-zero greenhouse gas (GHG) emissions goal and to join ResponsibleSteel™, but the benefits of its strategic initiatives go beyond the steel industry alone. “Our customers, including the EV manufacturers, have announced their own decarbonization goals,” said Kenneth E. Jaycox, U. S. Steel Senior Vice President and Chief Commercial Officer. “While we’re advancing on our sustainability goals, we’re also helping our customers meet theirs. That mutual benefit is inherent to our Best for All strategy.”
SOURCE: Businesswire