Shares of JSW Steel Ltd. are trading flat after reaching a day’s high of Rs 1,025.75 on 11th October. This follows the firm’s announcement yesterday of a strategic partnership with BHP and Carbon Clean to explore and potentially deploy Carbon Clean’s CycloneCC technology.

This initiative aims to scale carbon capture technology to decarbonise steel manufacturing. Joint studies will explore the feasibility of using Carbon Clean’s CycloneCC modular technology to capture up to 100,000 tonnes of CO2 emissions per year, marking the largest CycloneCC deployment in steelmaking.

The CycloneCC rotating packed bed (RPB) technology, combined with Carbon Clean’s APBS-CDRMax solvent, seeks to lower costs and reduce the equipment footprint by up to 50%, with equipment that is 10 times smaller than conventional carbon capture systems.

This project aims to scale up carbon capture by evaluating potential performance, costs, and carbon abatement outcomes. The joint studies are expected to conclude in 2026, after which the CycloneCC technology may be installed at JSW Steel’s Vijayanagar site in Karnataka.

JSW Steel plans to liquefy captured CO2 for local sale if the project is successful. The project’s key focus is on utilisation.

BHP’s Chief Commercial Officer emphasised that supporting technologies like CCUS are essential for decarbonizing steel production, especially in India, where blast furnaces will continue to be used.

JSW Steel’s shares have surged by 15% so far in 2024. The company’s market capitalisation stands at around Rs 247,553 crore.

At 3:23 PM, the shares of JSW Steel were trading 0.51% higher at Rs 1,012.55 on NSE.

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