Pittsburgh-based United States Steel Corp. recently announced it will begin production of its new electrical steel product, InduX, at its Big River Steel facility this summer.
Richard L. Fruehauf, U.S. Steel’s senior vice president and chief strategy and sustainability officer, unveiled the product during the Corporate Climate Leadership panel at the Ceres Global conference in New York City.
InduX electrical steel is a wide, ultra-thin, lightweight steel having the magnetic properties necessary for electric vehicles, generators, and transformers. It is manufactured using a new non-grain-oriented electrical steel.
Production will take place in Osceola, Ark. The facility, once fully operational, will produce up to 200,000 tons of InduX steel annually.
Total expected capital expenditures are approximately $450 million. It will be paid with cash Big River Steel generates.
Fruehauf joined others at the conference to discuss the need for partnerships in advancing decarbonization efforts.
“We know achieving our goal of net-zero GHG emissions by 2050 requires extraordinary action from everyone, and we are doing our part by collaborating to find new business approaches and to develop new technologies,” Fruehauf said. “Moreover, steel’s adaptability and near-infinite recyclability make it the ideal material to build safe, modern, and sustainable societies.”