An integrated producer of plate, sheet and strip, Algoma will look to switch to electric arc furnace (EAF) production, according to an announcement Monday.  

“Having a commitment of this magnitude from the Government of Canada shows leadership toward a net-zero, climate-resilient Canada, and is so very important as we look to make our proposed transformation to EAF steelmaking a reality,” said Algoma chief executive Michael McQuade. 

“The momentum is building on our path to our enhanced sustainability, with the promise of good secure jobs and a greener future for our community and our customers,” he added. 

The commitment includes up to CA$200 million from Canada’s Strategic Innovation Fund. The Canada Infrastructure Bank is to invest an additional CA$220 million in the project. 

Canada Prime Minister Justin Trudeau announced the funding award during a press event at Algoma’s Sault Ste. Marie, Ont., facility.

“Investments in clean technology benefit the environment and our economy,” Trudeau said. “(This) announcement is great news for the people of Sault Ste. Marie. It will help Algoma Steel create good middle-class jobs and cut pollution, while positioning Canada as a leader in cleaner and greener steelmaking.”