Nucor Corporation announced the launch of Econiq™, a line of net-zero carbon steel products. Building the green economy and the necessary infrastructure requires clean, advanced steel products. By introducing Econiq, Nucor is providing confidence for steel consumers to know they are purchasing the lowest greenhouse gas (GHG) emissions steel product available. A first of its kind at scale for the United States steel industry, Econiq will be available across Nucor’s steelmaking product lines, the broadest and most diversified offerings in the U.S. market.
“The green economy is being built on steel, and Nucor is proving that it can be produced in a sustainable way that can help the world meet its climate goals,” said Leon Topalian, President & Chief Executive Officer of Nucor Corporation. “For more than 50 years, Nucor has been built on a sustainable model of recycling steel to produce new steel and steel products. The addition of Econiq is a logical extension to our innovation legacy in the steel industry. Further, we are pleased to announce that General Motors, an iconic American manufacturer, will be Nucor’s first customer for Econiq beginning in the first quarter of 2022.”
“We commend Nucor for their commitment to net-zero carbon steel solutions and look forward to working with them to utilize their innovative Econiq steel in our vehicles. It brings GM one step closer to its vision of a zero emissions future,” said Shilpan Amin, GM vice president of Global Purchasing and Supply Chain. “General Motors is excited to be Nucor’s first customer for Econiq as we work to integrate sustainability into all aspects of our supply chain.”
General Motors will receive the Econiq net-zero steel beginning in Q1 2022, and it is projected that all steel purchased by GM from Nucor will be net carbon neutral by the end of 2022.
The United States is the cleanest place in the world to make steel, accounting for less than 2% of the GHG emissions from the global steel industry. Nucor’s use of recycled scrap-based electric arc furnace technology at all of its 24 U.S. mills enables us to operate at 70% below the current GHG intensity for the steel industry and meet even the most aggressive emission intensity benchmarks that are part of the Paris Climate Agreement. Econiq steel will extend that leadership even further, utilizing 100% renewable electricity and high-quality carbon offsets to negate any remaining Scope 1 and 2 emissions.
Courtesy of Nucor.