CHARLOTTE, N.C. , April 22, 2022 /PRNewswire/ -- Nucor Corporation (NYSE:NUE) is partnering with the University of Kentucky (UK) Research Foundation to test an innovative carbon dioxide (CO2) capture system at Nucor Steel Gallatin. This is one of 12 research projects being funded by a Department of Energy grant to advance point-source carbon capture and storage technologies that can capture CO2 emissions generated from natural gas power plants and industrial facilities which produce commodities like cement and steel.
Industry/university partnerships like the one between Nucor and UK are not new but are vital for piloting and successfully implementing new technology. More than 50 industry and university experts are working together to tackle the difficult challenge of applying carbon capture and sequestration techniques to an electric arc furnace steel making process. Once this pilot is complete Nucor and UK will have a better understanding of the costs and effectiveness of carbon capture technology for flue gas with low CO2 content and the feasibility of replication of this technology at other electric arc furnace steel mills.
"Nucor teammates, along with researchers at the University of Kentucky Research Foundation, recognized that to reach specific carbon reduction goals at industrial facilities, technologies like carbon sequestration need to become economically feasible," said Nucor Steel Gallatin General Manager, Scott Laurenti . "We are very excited to work with the experts at UK to pilot and evaluate carbon capture technology at Nucor Steel Gallatin."
"The successful construction and testing of this heat-integrated carbon capture process at Nucor Steel Gallatin shows great potential in lowering energy consumption at industrial sectors in Kentucky and across the nation," said Kunlei Liu, principal investigator of the project and UK College of Engineering faculty member. "We at UK are fully committed to work with our industrial supporters and collaborators to fulfill their environmental goals while managing the associated costs."
This project is supported by the U.S. Department of Energy's (DOE) National Energy Technology Laboratory (NETL) (DE-FOA-0002515 1st Closing).
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States , Canada and Mexico . Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.
View original content:https://www.prnewswire.com/news-releases/nucor-and-the-university-of-kentucky-receive-federal-grant-for-carbon-capture-rd-at-gallatin-mill-301530965.html
Copper theft in South African mines threatens to cut into the global supply of platinum, a crucial metal for electrifying the auto industry.
The British pound initially tried to rally during the week but collapsed and now is more likely than not going to go looking to the 1.20 level.
Even amid a tight labor market and low unemployment, some public companies and startups are turning cautious amid falling markets and economic concerns.
Veteran market technician Andrew Addison says there is no evidence that more stocks are reversing their downtrends as the broad indexes fall.
A faster slowdown in the central bank’s favored inflation metric alongside a brewing storm in the high-yield credit market might allow Fed policy makers to prioritize growth over the inflation fight.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergSony PlayStation Staff Fume Over CEO’s Abortion CommentsUkraine Latest: US Senator Delays Aid Vote; Russia Eyes BorderTerraform Again Halts Blockchain Behind UST Stablecoin, LunaMore Than $200 Billion Wiped Off Cryptocurrency Market in a DayCrypto Billionaires’ Vast Fortunes Are Destroyed in WeeksChina will likely report the weakest monthly economic indicators si
(Bloomberg) -- Masayoshi Son is paying a steep price for his outsized wagers on money-losing technology companies. Most Read from BloombergElon Musk Sows Doubt Over His $44 Billion Twitter TakeoverIndia Bans Wheat Exports as Food Security Comes Under ThreatSony PlayStation Staff Fume Over CEO’s Abortion CommentsApple Testing iPhones That Ditch Lightning Ports in Favor of USB-CTerra $45 Billion Face Plant Creates Crowd of Crypto LosersSon’s SoftBank Group Corp. reported a record annual loss at it
U.S. stocks ended a whipsaw session slightly lower on Thursday, as investors juggled signs of peaking inflation with fears that it could remain elevated, prompting ever more aggressive tightening from the Federal Reserve. All three major U.S. stock indexes seesawed and the S&P 500 came within striking distance of confirming it entered a bear market after swooning from its all-time high reached on Jan. 3.
The new agreement will be finalized and released to United pilots for final review, pilot's union United Master Executive Council said in a statement. "United was the only airline to work with our pilots union to reach an agreement during COVID," Kirby wrote in an Instagram post.
Apple just lost a coveted title. The iPhone maker snagged that crown in 2020 on financial performance that made investors dizzy on strong sales of its hardware -- iPhone, Mac, Apple Watch -- and a surge in services. It is therefore no surprise that Apple had passed the Saudi oil giant Saudi Aramco to become the world's most valuable company.
Getting the best rate on a mortgage matters because it can determine how affordable your monthly payments are and how much interest you'll pay over the life of the loan. Low rates are a boon for buyers while rising rates … Continue reading → The post What Will Inflation Do to Mortgage Rates? appeared first on SmartAsset Blog.
XRP breaks through key resistance levels this morning as investors prepare for news updates on Ripple’s reply to the SEC’s latest brief on the Hinman docs.
Goldman Sachs will allow its senior bankers to take as many holidays as they want, amid a war for talent and complaints about a gruelling long-hours culture.
Investors are closely watching what Terra's fall may mean for other stablecoins. They play an important role in the crypto ecosystem and account for about 13% of the crypto market's capitalization.
The company hired a financial adviser last October to explore the sale of its process technology division.
Bonds and stocks have both sold off this year, leaving investors nowhere to hide. There are better ways to build and preserve wealth now.
The departing executives said he was asked to leave by the CEO, who "wants to take the team in a different direction."
AppLovin Inc. shares soared Thursday for their best one-day gain after Wall Street supported the app-monetization company's plan to shift focus to its higher-margin software business and treat its lower-margin app segment like a standalone business, parts of which it could sell following a strategic evaluation.
The Hong Kong Monetary Authority had now sold about US$1.09 billion this week to stop the local currency trading beyond the weak end of its permitted range of 7.75 to 7.85 Hong Kong dollars per U.S. dollar.
Traders in the world's largest markets are having to navigate wild intra-day swings and shrinking deal sizes as central banks rapidly withdraw stimulus measures, in a small-scale reminder of a pandemic-driven financial seize-up just two years ago. The U.S. Federal Reserve said in a report this week that liquidity had "deteriorated" further than what might be expected at current levels of volatility, with noticeably poor conditions in treasury, commodity and equity markets. If markets are too unstable, the ability of central banks to transmit their monetary policy effectively is reduced and the Fed's wording is being read as a warning by some.