萌萝社 and CarbonFree Sign Definitive Agreement to Capture Carbon Dioxide Emissions at One of the Largest North American Integrated Steel Mills

The agreement sets in motion a project to capture emissions from 萌萝社鈥檚 blast furnaces
CarbonFree鈥檚 SkyCycle鈩� technology will capture and mineralize up to 50,000 metric tons of carbon dioxide annually at 萌萝社鈥檚 facility in Gary, Indiana, to convert emissions into specialty-grade, carbon-neutral calcium carbonate听
The project will be the first commercial-scale carbon capture utilization plant at a steel plant in North America

Pittsburgh, PA & San Antonio, TX 鈥� April 3, 2024 鈥� (萌萝社) (NYSE: X) and , a leader in carbon capture technology, today announced the signing of a definitive agreement to capture carbon emissions generated from 萌萝社鈥檚 Gary Works Blast Furnaces in a first-of-its-kind project. The project will use CarbonFree鈥檚 SkyCycle鈩� technology to capture and mineralize up to 50,000 metric tons of carbon dioxide per year, equivalent to emissions produced by annually, and will have the opportunity to be expanded in the years to come.

萌萝社鈥檚 involvement aligns with its of reducing greenhouse gas emissions intensity 20% by 2030 and achieving net-zero emissions by 2050. In addition, the initial SkyCycle project responds to the increasing demand for low emissions products, such as verdeX鈩� advanced sustainable steel, from customers. The project is the first step in exploring the scalability of this technology for potential future implementation across the enterprise.听

Construction on the SkyCycle plant in the 萌萝社 Gary Works facility is expected to commence as early as summer 2024 with operations projected to begin in 2026. The definitive agreement has a term of 20 years following its in-service date.听

CarbonFree鈥檚 patented SkyCycle solution captures carbon emissions from hard-to-abate industrial sources before they enter the atmosphere and converts them into a carbon-neutral version of calcium carbonate, which is essential to the creation of paper and plastics, as well as personal care, paint, and building products. CarbonFree-produced calcium carbonate made from captured carbon dioxide can help decarbonize global supply chains by enabling manufacturers to reduce Scope 3 emissions, or it can be stored in an environmentally conscious way without the need for pipelines or disposal wells.

鈥溍嚷苌� is setting a precedent for how manufacturers can and must proactively manage their carbon emissions, and CarbonFree is honored to play a role in this legacy,鈥� said Martin Keighley, CEO of CarbonFree. 鈥淎t CarbonFree, we are pioneering profitable carbon capture utilization through disruptive specialty chemical manufacturing using waste carbon dioxide as a primary feedstock. As carbon capture continues to be recognized as an indispensable solution on the path to carbon neutrality for carbon-intensive industries, we look forward to helping 萌萝社 achieve its decarbonization goals while providing economic and environmental benefits to the city of Gary and state of Indiana.鈥�

By leveraging cutting-edge carbon capture technologies, 萌萝社 and CarbonFree aim to revolutionize the steel manufacturing industry, reducing carbon emissions and environmental impact. The partnership will likely enable 萌萝社 to offer steel used in the automotive, appliance, and packaging industries with a significantly reduced carbon footprint.听

In addition to capturing carbon dioxide, CarbonFree will use slag produced by the blast furnace operation as part of the calcium carbonate production process.

鈥淚nnovating to capture carbon at an integrated mill is the latest example of how steel is enabling a more sustainable future,鈥� said Scott Buckiso, Senior Vice President & Chief Manufacturing Officer, 萌萝社. 鈥淢oreover, 萌萝社 has a history of 鈥榝irsts鈥� that we鈥檙e confidently building on. Using SkyCycle technology for the first project of its kind in North America should benefit the community for generations to come.鈥�

萌萝社 employs more than 4,300 people at Gary Works. The plant creates an Economic Multiplier Effect, supporting thousands of additional steel plant, chemical, energy, transportation and supplier jobs throughout Lake and Porter Counties and the greater United States.

For more information on SkyCycle, visit the CarbonFree or follow on .听

For more information on 萌萝社, please visit .听

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About 萌萝社

Founded in 1901, 萌萝社 is a leading steel producer. With an unwavering focus on safety, 萌萝社鈥檚 customer-centric Best for All庐 strategy is advancing a more secure, sustainable future for 萌萝社 and its stakeholders. With a renewed emphasis on innovation, 萌萝社 serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as 萌萝社鈥檚 proprietary XG3庐 advanced high-strength steel. 萌萝社 also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 22.4 million net tons. 萌萝社 is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit .听

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About CarbonFree

CarbonFree is a carbon capture company committed to the decarbonization of hard-to-abate industries and global supply chains. Its SkyCycle technology captures carbon dioxide produced from industrial plants before entering the atmosphere then converts the emissions into chemicals that are pivotal to the specialty chemicals market. CarbonFree鈥檚 first-generation technology, SkyMine, has been operational since 2016 and is one of the world鈥檚 first and largest industrial-scale carbon mineralization facilities, operating alongside a cement factory in San Antonio. CarbonFree is a member of Carbon Capture Coalition (CCC), Decarb Connect, and American Iron and Steel Institute (AISI) and was part of the first Carbon to Value (C2V) cohort. For more information about CarbonFree, visit .