New method from Boston Metal to be industrialised in mid-decade BMW Group constantly lowering CO2 emissions in its steel provider network Focus on secondary product and closed-loop product cycles at BMW Group press plants Wendt: “Around two million tonnes less CO2 across our steel supplier network by 2030 ”
Munich, Germany– WEBWIRE— Friday, March 12, 2021
As announced today, the company is investing in an innovative method for CO 2– free steel production established by American start-up Boston Metal, through its endeavor capital fund, BMW i Ventures. Over the coming years, Boston Metal plans to expand the brand-new approach for steel production on an industrial scale.
” We systematically recognize the raw products and elements in our provider network with the greatest CO 2 emissions from production. Steel is among them, but it is vital to car production. For this factor, we have actually set ourselves the goal of continuously decreasing CO 2 emissions in the steel supply chain. By 2030, CO 2 emissions need to be about 2 million tonnes lower than today’s figure, ” said Dr Andreas Wendt, member of the Board of Management of BMW AG accountable for Getting and Provider Network.
With its flexible homes, steel is one of the most important products in vehicle production and will be no less essential for future car generations. BMW Group press plants in Europe procedure more than half a million tonnes of steel per year.
Utilizing electrons instead of coal for steel production
The blast furnaces utilized in conventional steel production create co2. The startup Boston Metal utilizes electrical energy for its brand-new technology, which, by ways of an electrolysis cell, produces molten iron that is later on processed into steel. If electrical energy from renewable resources is utilized for this procedure, then steel production is carbon-free. The young company will construct demonstration facilities for this process over the next few years and more establish it for usage on an industrial scale.
The BMW Group established close contact with Boston Metal currently in 2015 in the context of its own research study activities and through the BMW Startup Garage. The business is now buying the startup as part of its i Ventures activities. Tadeu Carneiro, Chairman and CEO of Boston Metal: “Our financiers cover throughout the steel value chain, from the upstream mining and iron ore companies to the downstream end customer, and verify Boston Metal’s innovative process to produce top quality steel, cost-competitively, and at scale. “
Ingenious technologies and use of green power in steel production
Buying new innovations is among many actions the BMW Group is taking to fulfill its enthusiastic targets for the steel supply chain. For instance, low-carbon production is a crucial award criterion for every contract.
” It is essential to us that our partners are securely devoted to sustainable action and use production technologies with low -carbon emissions, ” included Wendt. “Making use of green power likewise has a significant effect. We are currently working with suppliers who utilize only green power for the steel they produce for us. “
Closed-loop product cycle and increased usage of recycled steel
To safeguard reserves of raw materials, the BMW Group has set itself the goal of further increasing its percentage of recycled raw materials, so-called secondary product, by 2030 and utilizing raw materials multiple times in a circular economy.
All steel waste produced at journalism plants– for instance, when doors are punched out– is either recycled through a direct product cycle or sent back to the steel producer by means of steel traders and processed into new steel. Making use of secondary material lowers CO 2 emissions significantly compared to primary material, saves natural deposits and also minimizes the amount of energy required for production.
Dedication to environmental and social requirements in the worth chain
As part of its participation with ResponsibleSteel, the BMW Group actively took part in advancement of a sustainability requirement that covers environmental and social standards throughout the entire value chain, starting at the mine. The sustainability requirement for production websites in the steel industry was published in 2019 as part of a multi-stakeholder procedure and now forms the basis for accreditation.
Not-for-profit ResponsibleSteel is the steel market’s first worldwide multi-stakeholder standard and certification initiative.
About Boston Metal
Boston Metal is a global metals technology services company that is commercializing molten oxide electrolysis (MOE), a patented tonnage metals production platform. To discover more about Boston Metal, go to– www.bostonmetal.com
About BMW i Ventures
BMW i Ventures, BMW’s EUR equity capital fund, invests money and resources in startups in the fields of self-governing driving, digital automobile and automotive cloud, e-mobility, artificial Intelligence and data, market 4.0, shared and on-demand movement, client digital life, and sustainability. The firm has already partnered with ingenious business such as Alitheon, Chargepoint, Recogni, CelLink, Urgent.ly, PureCycle Technologies, Tekion and many more.
BMW i Ventures purchases all stages from seed and incubation to development business.
About BMW Start-up Garage
BMW Startup Garage is the BMW Group’s endeavor customer unit. It shares concepts with more than 1,000 startups in about 30 countries every year, seeking out developments that provide real advantages for the BMW Group’s products, services, systems and procedures. This secures the business early access to innovations that can be personalized prior to they are prepared to market. The startups gain valuable insights into automotive procedures and are able to construct a network within the business. They likewise receive help in fine-tuning their service strategy. The objective of the program is to examine startups and allow them as long-term partners for the BMW Group, as a way of reinforcing the business’s development leadership. The Startup Garage has an existence worldwide at all BMW Tech Office locations: Munich, Mountain View, Shanghai, Seoul, Tokyo and, considering that 2020, Tel Aviv.
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