Nucor Launches Econiq, New Net-Zero Steel Product
By Metal Center News Staff
on Oct 5, 2021
Nucor Corp., Charlotte, N.C., has launched Econiq, a line of net-zero carbon steel products. By introducing Econiq, Nucor is providing confidence for steel consumers to know they are purchasing the lowest greenhouse gas emissions steel product available, the mimimill producer claims.
"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 and CEO of Nucor. "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 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.
Nucor's use of recycled scrap-based electric arc furnace technology at all of its 24 U.S. mills enables the company to operate at 70 percent 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, the company claims. Econiq steel will extend that even further, utilizing 100 percent renewable electricity and high-quality carbon offsets to negate any remaining Scope 1 and 2 emissions.
The Econiq brand will be available across the complete line of Nucor steelmaking products and initial quantities will be limited. The company expects immediate interest from automotive and construction customers, and from across the renewable energy and infrastructure sectors.