POSCO Holdings and POSCO E&C Sign Business Agreement
Joint Development of Carbon Capture and Utilization Technology
Ssangyong C&E is joining forces with the steel and construction industries to reduce carbon emissions in order to achieve carbon neutrality.
Ssangyong C&E, POSCO Holdings, and POSCO E&C signed a business agreement on the 4th at BEXCO in Busan for "Cooperation on Carbon Capture and Utilization Technology to Reduce Carbon Emissions in National Key Industries." (From left) Geonwoo Han, Center Head of POSCO Holdings; Jongmoon Choi, Center Head of POSCO E&C; Daeyoung Chu, Executive Director of Ssangyong C&E. Photo by Ssangyong C&E
On the 4th, Ssangyong C&E announced that it signed a business agreement on "Cooperation for Carbon Capture and Utilization Technology to Reduce Carbon Emissions in National Key Industries" together with POSCO Holdings and POSCO E&C at BEXCO in Busan.
This business agreement was established with the purpose of uniting companies representing the cement and steel industries, which are major national key industries, to realize nationwide carbon neutrality. The main content of the agreement is to jointly develop carbon capture and utilization technologies to reduce carbon emissions generated during the production processes of Ssangyong C&E and POSCO products, and to explore ways for POSCO E&C to recycle these captured carbons as basic materials at construction sites.
Over the past three years, Ssangyong C&E has continuously accumulated carbon emission reduction technologies, including developing limestone cement with carbon reduction effects and exporting it overseas. Through this business agreement, it is expected to significantly contribute to reviewing and verifying processes capable of carbon capture during production and achieving tangible results in cement resource recovery technology using captured carbon.
POSCO Holdings plans to develop technologies for capturing carbon during manufacturing processes and mineral carbonation technology that directly reacts exhaust gases with by-products or minerals to fix them.
A Ssangyong C&E official stated, “Based on the technological capabilities we have accumulated so far, we will actively promote the application of Carbon Capture, Utilization, and Storage (CCUS) processes and the development of cement resource recovery technology using captured carbon, and do our best to ensure the successful progress and development of this business agreement.”
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