Harsco Addresses Environmental Worry - Analyst Blog
August 16 2011 - 12:36PM
Zacks
In an endeavor to advance the capture and reuse of steel mill
flue gases as an environmentally significant source of reliable
energy, Harsco
Corporation (HSC) recently formed a strategic alliance
with LanzaTech, a clean energy technology company. The financial
terms of the transaction were not disclosed.
Based in New Zealand,
LanzaTech produces fuel-grade ethanol from steel mill gases. Its
proprietary biotechnical know-how reduces greenhouse gas emissions
by converting the waste gases emitted by blast furnace, coke oven
and BOF operations into low cost, zero carbon ethanol.
Both the companies will
chalk out a plan for presenting LanzaTech biotechnology to Harsco’s
major steel mill customers. This contract underscores Harsco’s
attempt to provide innovative products to customers and
simultaneously help in building a more sustainable environment by
providing beneficial 'green' resources.
Recently, the company also
won an environmental solutions contract for onsite metal recovery
in China from the world's largest steel producers Taiyuan Iron
& Steel (Group) Co., Ltd. (TISCO) - one of Harsco’s joint
venture partners. The tenure of the contract is 25 years and metal
recovery portion of the contract is estimated in excess of $500
million.
The contract is bifurcated
in two phases; the first phase is the metal recovery portion, which
leads to the second phase where the joint venture company will
commercialize slag co-products in China for a range of projected
agricultural and industrial uses.
Under the contract, the
company will apply its proprietary separation technologies to
extract high-value metallic content from TISCO's slag for
production re-use. The metal recovery operations will begin in
2012. Additionally, there will be a parallel market development for
the agricultural fertilizer and other commercial by-products
expected to start in 2014.
With the help of this
contract, the company expects to establish a new major platform for
its continuing global advancement as a knowledge based
environmental solutions company.
Based in Pennsylvania,
Harsco Corporation is a diversified multinational corporation
providing market- leading industrial services and engineered
products to a variety of industries that are fundamental to the
world’s economic growth and progress.
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