Nucor Corporation announced today the launch of Econiq, a line of net-zero carbon steel products. In a press release, the company said building the green economy and the necessary infrastructure requires clean, advanced steel products, and by introducing Econiq, Nucor is “providing confidence for steel consumers to know they are purchasing the lowest greenhouse gas (GHG) emissions steel product available.”
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.
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.
"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."
Nucor said its use of recycled scrap-based electric arc furnace technology at all of its 24 US mills enables the company to operate at 70 percent below the current GHG intensity for the steel industry, while meeting “even the most aggressive emission intensity benchmarks” that are part of the Paris Climate Agreement. Nucor said Econiq steel will utilize 100 percent renewable electricity and high-quality carbon offsets to negate any remaining Scope 1 and 2 emissions.