One of Japan's largest steelmakers just made a big move to clean up one of the dirtiest industries on the planet and get closer to its nation's sustainability goals.
Reuters reports that JFE Steel, the country's second-largest steel producer, says it will invest $2.26 billion (329.4 billion yen) to build a state-of-the-art electric arc furnace at a plant in western Japan. The project, backed by up to $710 million in Japanese government grants, is expected to launch in 2028 with the capacity to produce around 2 million tons of steel annually — but with a lot less pollution.
The steel industry is a major contributor to planet-warming pollution because of the coal-fired blast furnaces traditionally used to smelt iron. But EAFs work differently. Instead of coal, they rely on electricity to melt scrap steel, dramatically cutting the amount of polluting gases released in the process. This switch could have ripple effects across supply chains, from construction to cars to clean energy projects including wind turbines.
It's all part of a broader goal to transition toward low-carbon and hydrogen-based steelmaking. That's good news not just for the environment but also for communities breathing in the pollution generated by these industries. Less air pollution means lower risks of asthma, cardiovascular issues, and other illnesses linked to pollution.
Plus, with major companies scaling eco-friendly initiatives with the help of government grants, it could drive down long-term costs. As clean steel becomes the norm, consumers are likely to see comparable prices (or even savings) for more sustainable goods.
The project is an example of how governments and industries can work together to hit climate targets. Companies around the world are testing low-carbon steel made with hydrogen, and major automakers such as Volvo and Mercedes-Benz are signing deals to use cleaner steel in future vehicles.
"JFE Steel aims to become the world's first mass supplier of high-quality, high-function steel materials, such as electromagnetic steel sheets and high-tensile steel sheets, which cannot be produced with existing large-scale electric arc furnaces," the company said in a statement.
It added: "In May 2021, JFE formulated its JFE Group Environmental Vision for 2050, which calls for bold initiatives to address climate change as a key corporate priority. Going forward, JFE Steel is committed to developing super-innovative technologies that contribute to global sustainability."
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