Nucor bets on silver bullet for ‘green’ steel: Nuclear fusion

America’s Biggest Steel Supplier Invests in Nuclear Fusion Energy Startup

Nucor, America’s biggest steel supplier and recycler, is investing $35 million in Helion Energy, a nuclear-fusion energy startup that has already received significant backing from OpenAI CEO Sam Altman and investors Dustin Moskovitz, Mithril Capital, and Capricorn Investment Group.

Helion’s Ambitious Goal for the Ferro-Fusion Age

In a press release, Helion outlines its ambitious target for the dawn of the ferro-fusion age. By 2030, the company plans to build a 500-megawatt power plant at one of Nucor’s U.S. steel mills. The electricity generated will be sold directly to the steelmaker to fuel its electric arc furnaces.

The Environmental Impact of Steelmaking

Steelmaking is one of humanity’s most crucial and energy-intensive manufacturing processes. It is responsible for approximately 7% to 11% of the globe’s anthropogenic carbon dioxide emissions.

Nucor’s Commitment to Clean Energy

Nucor already uses the cleanest method available for steel production at mass-manufacturing scale by recycling scrap metal in an electric arc furnace. This process emits up to 75% less greenhouse gases compared to traditional blast-furnace-based steelmaking. Nucor aims to achieve 100% clean energy usage and recognizes the need for an always-on, affordable baseload source of zero-carbon electricity.

Investing in Nuclear Fusion for Clean Energy

By investing in Helion Energy and partnering with them, Nucor believes that nuclear fusion can provide the baseload power required to clean up the steel industry. Nuclear fusion is a potentially limitless clean energy source that, if successful, can revolutionize the sector by the end of this decade.

The energy used to produce green steel could also come from other sources, such as nuclear fission or renewables like solar and wind paired with energy storage. Nucor has previously invested in NuScale Power, a small modular reactor company, and has signed power-purchase agreements for solar-powered electricity.

Helion’s Near-Term Plans

Helion aims to build a fusion device capable of demonstrating net electricity production by 2024. The company has raised over $600 million since its founding in 2013, including the recent investment from Nucor. The global fusion industry has received a cumulative $6.21 billion in investment, with significant venture capital funding flowing to startups in recent years.

SDGs, Targets, and Indicators in the Article

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 7: Affordable and Clean Energy
• SDG 9: Industry, Innovation, and Infrastructure
• SDG 13: Climate Action

2. What specific targets under those SDGs can be identified based on the article’s content?

• SDG 7.2: Increase the share of renewable energy in the global energy mix
• SDG 9.4: Upgrade infrastructure and retrofit industries to make them sustainable
• SDG 13.2: Integrate climate change measures into national policies, strategies, and planning

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Percentage of electricity used in steelmaking that comes from clean or renewable energy sources
• Investment in nuclear fusion and other clean energy technologies for steel production
• Reduction in greenhouse gas emissions from steelmaking

Table: SDGs, Targets, and Indicators

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Source: canarymedia.com

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