AK Steel Receives New $1.2 Million Award from U.S. Department of Energy to Explore the Development of New Steels for Lightwei...
October 11 2018 - 10:30AM
AK Steel (NYSE: AKS) announced today that it has accepted an award
of up to $1.2 million from U.S. Department of Energy (DOE) under
the Office of Energy Efficiency and Renewable Energy’s (EERE)
Advanced Manufacturing Office program to investigate novel low
density steels in the laboratory, which could ultimately be used in
automotive structural applications.
The three-year project will be conducted in
collaboration with DOE, Oak Ridge National Laboratory Materials
Science and Technology Division, and the Advanced Steel Processing
and Products Research Center in the Department of Metallurgical
& Materials Engineering at the Colorado School of Mines.
The objective of the project is to conduct alloy design,
laboratory validation, and testing of low density steels that are
alternatives to currently available advanced high strength steels
and other lightweight metals. These low density steels are
expected to generate energy savings by bringing efficiencies in
manufacturing and lifetime savings in automotive structural
applications.
“AK Steel is honored to have been selected by the
Department of Energy to participate in this work to drive leading
edge research in new steel technologies,” said Roger K. Newport,
Chief Executive Officer of AK Steel. “Research into products
such as low density steel alloys continues to showcase the
capability of steel to provide innovative solutions for our
customers, and the breadth of opportunity for further steel
innovations.”
This funding opportunity under DOE was created to
allow selected projects to perform early-stage research and
development (R&D) of new, advanced manufacturing technologies
as well as to encourage R&D contributions from new partners.
Successful projects will reduce technical uncertainty and
develop new knowledge associated with potential breakthrough
materials, processes, and tools for U.S. manufacturers that could
improve their competitiveness and enhance their energy
efficiency.
AK Steel is one of the leading worldwide producers
of advanced high strength steels (AHSS). This award
complements our innovations in third generation AHSS design and
manufacture to support automotive lightweighting. This is the
second recent award AK Steel has received from DOE EERE to provide
solutions for efficient vehicle design. The prior award is
focused on manufacturing new steels that provide increased
efficiency in high-frequency electric motors. Both awards
demonstrate and underscore AK Steel’s innovation and commitment to
being a leader in next generation steel product and process
developments.
AK SteelAK Steel is a leading producer of
flat-rolled carbon, stainless and electrical steel products,
primarily for the automotive, infrastructure and manufacturing,
including electrical power, and distributors and converters
markets. Through its subsidiaries, the company also provides
customer solutions with carbon and stainless steel tubing products,
die design and tooling, and hot- and cold-stamped components.
Headquartered in West Chester, Ohio (Greater Cincinnati), the
company has approximately 9,200 employees at manufacturing
operations in the United States, Canada and Mexico, and facilities
in Western Europe. Additional information about AK Steel is
available at www.aksteel.com.
Contacts: Media – Lisa H. Jester,
Corporate Manager, Communications and Public Relations (513)
425-2510Investors – Douglas O. Mitterholzer, General Manager,
Investor Relations (513) 425-5215
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