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ExxonMobil has announced its latest venture in carbon capture and storage by partnering with Nucor, a prominent steel manufacturer. This collaboration aims to capture, transport, and store up to 800,000 metric tons of carbon dioxide annually from Nucor’s manufacturing site in Convent, Louisiana.
With this agreement, ExxonMobil achieves a significant milestone, reaching a total commitment of 5 million metric tons of carbon transportation and storage for third-party customers. The strategy is part of ExxonMobil’s commitment to helping transition to a net zero across industries while simultaneously establishing a significant new business model.
ExxonMobil’s Other Carbon Capture Partnerships
ExxonMobil’s collaboration with Nucor follows previous carbon capture agreements with industry leaders, including Linde, an industrial gas company, and CF Industries, an agricultural fertilizer manufacturer.
With its newest partnership, ExxonMobil will transport 5 million metric tons of carbon. After transportation, the amount of carbon to be stored annually is equivalent to replacing approximately 2 million gasoline-powered cars with electric vehicles.
Dan Ammann, president of ExxonMobil Low Carbon Solutions, emphasizes that by leveraging its expertise and resources the company is actively contributing to solving emission challenges in various sectors, including energy-intensive industries like steel manufacturing. This collaborative effort aligns with Louisiana’s objective of achieving net-zero carbnon emissions by 2050, supporting the state’s sustainable development goals.
ExxonMobil’s Role With Nucor
Industries such as steel manufacturing play a crucial role in global emissions, and actively working with key players like Nucor, ExxonMobil is helping provide viable and scalable offerings that address the emissions challenges faced by energy-intensive industries.
However, ExxonMobil isn’t the only company partnering with Nucor. In 2022, the company announced a partnership with the University of Kentucky Research Foundation that would test a carbon capture system. The project was one of 12 research projects funded by the U.S. Department of Energy grant to advance carbon capture and storage technologies that can capture carbon emissions generated from natural gas power plants and industrial facilities which produce commodities like cement and steel.
Now, ExxonMobil’s partnership with Nucor contributes to global carbon reduction efforts while also establishing emissions platforms for energy-intensive sectors such as steel.