Iron & Steel Production Projects (Combined with CCUS)
Carbon Capture, Utilization and Storage (CCUS) is poised to play a leading role in decarbonizing the iron & steel making, which contributes roughly 6% of global CO2 emissions. Some steel plants generate a high-concentration CO2 stream (from direct reduced iron processing) and are viable candidates to retrofit with CCUS because of their low capture cost.
The cement and iron & steel industries are still new in the CCUS business. The first project appeared in 2017, but more are likely to come in the next few years, including three clusters (Athos in Holland, Longship in Norway, and Net Zero Teeside in UK). However, the projects have a low carbon capture capacity (average of 0.7 Mtpa).
45Q Tax Credit is a great opportunity for cement and iron & steel producers to monetize the CO2 emissions produced during their production processes. But to qualify for this tax credit, the CO2 emissions must be captured, and then that captured CO2 must either be stored underground in secure geologic formations or used for CO2 enhanced oil recovery (EOR) projects, or utilized in other projects that permanently sequester/store CO2.
The sesoned consultants of the A&A Consulting Team are available to help cement and iron & steel producers on ALL aspects of their GHG emissions related 45Q Tax Credit projects, to take full advantage of this tax credit opportunity, by providing state-of-the-art consulting services whenever requested.
To put the high-level and seasoned consultants, subject matter experts (SME), of the A&A Consulting Team to work on your company's GHG emissions related 45Q Tax Credit projects, please contact us.
