The German car manufacturer BMW intends to reduce carbon dioxide emissions in the production of steel used in the manufacture of its cars over the next ten years by two million tons.
In order to achieve this goal, the company intends to invest in a carbon dioxide-free steel production process developed by the US startup Boston Metal.
BMW’s Purchasing Manager, Andreas Vint, said, that steel will remain one of the most important materials used in the manufacture of cars in the future, indicating in return that it is still considered one of the raw materials and components with the highest emissions of carbon dioxide in production.
Fint said that his company uses more than half a million tons of steel annually in Europe, but “in 2030, it is expected that the emissions of carbon dioxide resulting from it will be about two million tons less than the present value.”
In conventional steel production processes using coal, carbon dioxide is generated in blast furnaces. Boston Metal uses electricity to produce iron ore by means of what is called electrolysis of molten oxide, which is then converted into steel. With the use of electricity from renewable sources, this form of steel production will be carbon dioxide-free.
Boston Metal intends to establish pilot plants in the coming years to further develop the steel production process at competitive costs. BMW is investing an undisclosed sum in the startup.