Steel Mills
Nucor, US Steel Bag Green Steel Contracts From HVAC Provider
Written by Laura Miller
November 16, 2022
Demand for low-carbon steel is picking up, with two US steel producers bagging significant contracts to provide green steel for a global HVAC producer.
Sustainable HVAC provider Trane Technologies announced it will be purchasing low-carbon steel from Nucor Corp., its primary supplier, as well as from US Steel.
Nucor’s Econiq™ steel and US Steel’s verdeX® steel will be used in Trane’s US manufacturing of heat pumps and air conditioners for residential use and in commercial thermal management systems.
The low-carbon steel will account for 20% of Trane’s annual steel purchases, and the Swords, Ireland-based company plans to increase its usage of net-zero steel to 50% by 2030 and to 100% by 2050.
“Our partnerships with Nucor Corp. and US Steel will make our products even more sustainable as we continue to decarbonize our full value chain – from the raw materials we use, to our own operations, to the lifecycle impact of our products and services around the world. We’re proud to be leading the market transition to a net-zero future,” said Trane chair and CEO Dave Regnery.
The leaders of both steelmakers expressed their enthusiasm for Trane’s interest in low-carbon steel in a statement announcing the purchase agreements.
“Our Econiq™ brand is helping steel end users meet their growth and sustainability goals, and we are proud that it is going to be a key piece of Trane Technologies’ vision of a net-zero emissions future,” Nucor chair, president, and CEO Leon Topalian said.
“US Steel’s verdeX® steel is strong enough to handle the day-to-day demands of businesses and homeowners, and can reduce CO2 emissions by up to 70%–80% versus integrated steel mill production,” noted US Steel president and CEO David Burritt.
Trane operates manufacturing facilities all across the US and the world.
By Laura Miller, Laura@SteelMarketUpdate.com
Laura Miller
Read more from Laura MillerLatest in Steel Mills
Despite trade chaos, Barry Schneider upbeat on SDI, steel
With 30 years of experience at Steel Dynamics, Barry Schneider reflects on the company and the state of the steel industry.
Algoma Steel seeks CAD$500M in operational support
Algoma Steel applied to Canada’s federal Large Enterprise Tariff Loan (LETL) program for $500 million to support its long-term operations.
SDI concerned with potential Brazil pig iron tariffs
Steel Dynamics Inc. (SDI) executives called a 50% tariff on Brazilian pig iron “concerning,” but think tariffs will be a “mainstay” of trade agreements going forward.
SDI earnings slip in Q2 as trade volatility hits customer orders
SDI profits slipped in second quarter amid trade policy volatility.
Cliffs puts ‘for sale’ signs up after another big quarterly loss
Cleveland-Cliffs lost more than $400 million for the third consecutive quarter but predicted results would improve in the second half of the year. And shares of the Cleveland-based steelmaker surged after company executives said during its Q2 earnings call on Monday that they could make billions by courting foreign investors or selling assets.