British Steel is set to take a major step towards reaching its goal of decarbonizing steel production in the UK. In a £1.2 billion investment, the company has announced plans to replace its blast furnaces at Scunthorpe and Teesside with two electric arc furnaces (EAFs). The project aims to reduce carbon emissions by electrifying the steelmaking process.
Xijun Cao, Chief Executive Officer and President of British Steel, explained that the project is subject to financial support from the UK government. He suggested that the new electric arc furnaces could be operational by late 2025.
Following the announcement of its Low Carbon Reductions Roadmap in October 2021, the company committed to achieving net-zero steel by 2050 and significantly reducing CO2 intensity by 2030 and 2035. It is claimed that the adoption of electric arc furnaces as part of a potential new operating structure could accelerate its targets and reduce CO2 intensity by around 75%.
This is in line with the UK government's target to reduce emissions from steel production by 95% by 2050.
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