AK Steel announced Wednesday that it will receive a $1.8 million grant from the US Department of Energy to develop a new grade of steel to make electric motors more energy efficient.
According to local media reports, AK Steel was one of 13 recipients awarded a total of $25 million and challenged to solve the need for a more efficient motor. Energy for electric motors constitutes nearly a quarter of all US electricity consumption, according to the US Department of Energy.
“We are pleased to be considered for this collaborative agreement to develop innovative grades of electrical steel for use in electric motors,” said Roger K. Newport, AK Steel Chief Executive Officer. “This work is consistent with our ongoing research and production of electrical steels for use in the electrical grid, and for other uses such as motors for hybrid and electric vehicles.”