POSCO announced on Aug. 4 that it has signed a business agreement with British plant construction company Primetals Technologies for cooperation in designing a hydrogen-based reduction ironmaking demonstration plant.
The agreement was signed at the Pohang Institute of Technology in North Gyeongsang Province on July 26.
POSCO’s carbon-neutral roadmap is based on hydrogen reduction (HyREX) technology, a unique eco-friendly hydrogen-based reduction ironmaking model.
Primetals designed a FINEX facility in cooperation with POSCO. FINEX is a new iron making technology commercialized by POSCO in 2007. FINEX facilities use reduction gas with a hydrogen content of 25 percent. They skip sintering and coking processes that turn iron ores and coal into lumps and use them in the form of powder. HyREX is similar to FINEX technology. The steelmaker will follow the method of reducing iron ores by directly contacting them with hydrogen in a powdery spectroscopic state.
POSCO plans to verify the commercial feasibility of hydrogen-reduced steelmaking by 2030. Then, it will gradually replace current blast furnaces in its steel mills with HiREX facilities through production optimization. POSCO’s goal is to achieve carbon neutrality by 2050.