According to a press release from Aymium, a producer of renewable biocarbon products, total investments in the company are in excess of US$200 million.
 
The company’s products, which include biocarbon and biohydrogen, are designed to displace fossil fuel-based inputs without the need for any plant modifications. The company said that every ton of its product used in place of coal results in a net reduction of more than 5 tons of CO₂.
 
Aymium operates the largest advanced biocarbon production facility in North America located near Marquette, Mich., USA. Its process converts biomass into biocarbon using integrated thermolysis. According to Aymium, the process produces the only commercially demonstrated carbon-negative input for global steel production.
 
“We are incredibly excited to make this important investment to support Aymium’s mission to advance renewable biocarbon production,” said Theresa E. Wagler, executive vice president and chief financial officer of Steel Dynamics Inc. “This investment and our planned strategic relationship with Aymium represent a significant step on our path to carbon neutrality, and our continued commitment to reduce our environmental footprint.”
 
Proceeds from the financing will be used to advance construction of Aymium’s newest production facility in California and another in the Pacific Northwest. Production from both plants is anticipated to reduce more than 1.4 million tons per year of CO₂.
 
“We are delighted to become an equity partner in Aymium,” said Sinead Kaufman, chief executive of Rio Tinto Minerals. “This investment is aligned with our strategy of partnering in the development of leading-edge technologies with the potential to help deliver lower carbon footprints and environmentally sensitive solutions when producing essential minerals and metals.”