Algoma supports Ontario power initiative

Sault Ste. Marie, Ontario, Canada-based Algoma Steel Group Inc. says the province of Ontario’s newly announced Northern Ontario Energy Advantage Program (NEAP) is “an important program for Algoma as it pursues its transition to electric arc furnace (EAF) steelmaking.”

“The province’s commitment to supporting industrial electricity customers through the Northern Industrial Electricity Rebate Program was key in our decision to pursue electric arc steelmaking,” says ,” said Michael McQuade, President and CEO of Algoma. The company announced its intention to convert to scrap-fed EAF production in mid-2021 and selected a technology provider last December.

Continues McQuade, “We believe the ongoing support from the government of Ontario through the enhanced NEAP program will play an important role in enabling us to modernize steelmaking and create a secure, stable future in Sault Ste. Marie. We recognize and thank the province for their support and leadership on the path to net zero.”

Algoma says its announced transition to EAF steelmaking, along with the NEAP announcement, “represents a further landmark reinforcing the relevance of its investment decision. Ontario’s clean energy grid is known as one of the lowest carbon emitting power supplies across North America. When combined with Algoma’s strategic decision to transition to EAF, the company intends to become one of the leading producers of green steel in North America.”