ExxonMobil and Nucor Corporation Join Forces to Reach a Carbon Capture Milestone of 5 MTA

Louisiana: The latest Carbon capture and storage deal between ExxonMobil Low Carbon Solutions and Nucor Corporation, one of North America's leading steel producers, highlights our ongoing success in assisting industrial clients in reducing emissions.

Up to 800,000 metric tons of CO₂ per year will be collected, transported, and stored from the Nucor manufacturing facility in Convent, Louisiana. Direct reduction iron (DRI), a raw material used to create high-quality steel items like vehicles, home furnishings, and heavy machinery, is produced at the facility. 

It follows prior agreements with agricultural fertilizer manufacturer CF Industries and industrial gas giant Linde as our third Carbon capture arrangement to be announced in the last seven months. 

It also represents a significant achievement because it brings the total amount of CO₂ that we have agreed to move and store for outside clients to 5 million metric tons annually (MTA). That would be the equivalent of switching over 2 million gasoline-powered cars to electric vehicles, which is roughly the amount of EVs already present on US roads. 

According to Dan Ammann, president of ExxonMobil Low Carbon Solutions, the agreement with Nucor is the most recent illustration of how we are carrying out our objective to aid in accelerating the global transition to net zero and creating a lucrative new industry. As clients become more aware of our capacity to address emission concerns on a large scale, momentum is growing.

The CF Industries project will connect to the same CO₂ transportation and storage infrastructure as the Nucor project, which is scheduled to begin in 2026. This will help Louisiana achieve its goal of having no net CO₂ emissions by the year 2050.

Focusing on developing and implementing emissions solutions for the energy-intensive sectors of the economy, including industries like steel, as was stated in our most recent Low Carbon Solutions Spotlight event.

Exxon Mobil Corporation vertically integrated across the whole oil and gas sector, the firm, which adopted its current name in 1999 because of Exxon and Mobil's merger, Additionally, it features a chemicals division responsible for the production of plastic, synthetic rubber, and various other chemical goods. Although ExxonMobil was formally formed in New Jersey, the company is based in the Houston suburb of Spring, Texas.

American steel and associated product manufacturer Nucor Corporation is situated in Charlotte, North Carolina. It is the largest scrap recycler in North America, the largest "mini-mill" steelmaker (melting scrap steel in electric arc furnaces as opposed to blast furnaces to melt iron), and the largest steel manufacturer in the United States. Nucor is the world's fifteenth-largest steel producer as of 2021.