- Algoma Steel (ASTL) selects Danieli as technology provider of new electric arc steelmaking facility
- Danieli’s new technology will reduce Algoma Steel’s carbon emissions
- The new electric arc facility will have increased capacity of 3.7 million tons of liquid steel
- The new facility will also include an automated scrap yard and expected to open in 2024
- Algoma Steel’s shares are down 1.19 per cent trading at $13.20 per share as of 12:10 PM EST.
After a rigorous review of suppliers, Danieli was selected as the best fit for Algoma Steel’s (ASTL) needs.
Algoma Steel is a Canadian producer of steel products and with Danieli, the company will transition away from basic oxygen steelmaking.
This transition is expected to reduce Algoma Steel’s carbon emissions by approximately 70 per cent. Algoma Steel will then become one of North America’s leading providers of green steel.
The new electric arc facility (EAF) will have a capacity of 3.7 million tons of liquid steel. Two electric arc furnaces are powered by Q-One digital power systems which will improve energy efficiency.
The EAF can produce high-quality liquid steel from recycled steel scrap. Danieli’s technology is optimized for process quality, low operating costs, and enhanced safety.
The EAF will include an automated scrap yard and a Danieli Twin-Tank Vacuum Degasser for better steel cleanliness and product quality.
The new EAF is expected to be operating in early 2024.
Algoma Steel’s shares are down 1.19 per cent trading at $13.20 per share as of 12:10 PM EST.