Algoma Steel and Ontario Energy Board Reach Agreement on Electric Arc Furnace

Ontario Energy Board Approves Algoma Steel's Electric Arc Furnace Project

Algoma Steel's Electric Arc Furnace to Reduce Greenhouse Gas Emissions

Algoma Steel Inc. and the Ontario Energy Board (OEB) have reached an agreement on the company's proposed electric arc furnace (EAF) project in Sault Ste. Marie, Ontario.

The OEB approved Algoma Steel's application to construct and operate an EAF at its Sault Ste. Marie steelmaking complex. The EAF will replace two existing blast furnaces and will significantly reduce the company's greenhouse gas (GHG) emissions.

Algoma Steel's EAF project is part of the company's broader efforts to reduce its environmental footprint. The EAF will use recycled steel scrap as its primary feedstock, which will reduce the need for iron ore and coke, both of which are major sources of GHG emissions.

The OEB's approval of Algoma Steel's EAF project is a significant milestone for the company and for the province of Ontario.

The EAF is expected to be operational by 2024 and will create approximately 300 new jobs.

Benefits of Algoma Steel's Electric Arc Furnace

The EAF project will provide a number of benefits for Algoma Steel and for the province of Ontario, including:

• Reduced GHG emissions: The EAF will reduce Algoma Steel's GHG emissions by approximately 70%, which is equivalent to taking 500,000 cars off the road.
• Increased energy efficiency: The EAF will be more energy-efficient than the existing blast furnaces, which will reduce Algoma Steel's operating costs.
• Improved product quality: The EAF will produce higher-quality steel than the existing blast furnaces, which will make Algoma Steel more competitive in the global steel market.
• Job creation: The EAF project will create approximately 300 new jobs in Sault Ste. Marie.

Conclusion

The OEB's approval of Algoma Steel's EAF project is a significant step forward for the company and for the province of Ontario.

The EAF will reduce Algoma Steel's GHG emissions, increase its energy efficiency, improve its product quality, and create new jobs.

The EAF project is a major investment in the future of steelmaking in Ontario and will help to ensure that Algoma Steel remains a competitive player in the global steel market.