CF Industries and POSCO Evaluating Joint U.S.-Based Clean Ammonia Project and Long-Term Clean Ammonia Offtake Agreement into South Korea
- Potential joint venture for low-carbon clean ammonia plant
- Reduction of CO2 emissions by over 90% with ATR technology
- None.
Companies to Initiate FEED Study on Autothermal Reforming (ATR) Ammonia Facility
As part of their evaluation, CF Industries and POSCO will initiate a front-end engineering and design (FEED) study on autothermal reforming (ATR) ammonia production technology. ATR technology, when combined with carbon capture and sequestration (CCS), is expected to reduce carbon dioxide (CO2) emissions from the ammonia production process by more than
Should the project move forward, POSCO expects to import low-carbon clean ammonia from the facility to
“We are pleased to collaborate with POSCO to support both their decarbonization goals as well as those of South Korea,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “POSCO’s concrete plans to use low-carbon ammonia to accelerate decarbonization in steel manufacturing and power generation in
Yoo Byeong-ok, Chief Green Materials & Energy Business Officer at POSCO Holdings, stated, "
The FEED study is expected to be completed in the second half of 2024, with a final investment decision by CF Industries and POSCO to follow.
Since 2020, CF Industries has advanced industry-leading projects to decarbonize its ammonia production network and position the Company to supply a substantial volume of low-carbon clean ammonia within the next few years. This includes leveraging CCS technologies at its Donaldsonville Complex where CF Industries is constructing a CO2 dehydration and compression facility to enable the capture and permanent sequestration of up to 2 million tons of CO2 per year with ExxonMobil, starting in 2025. The Company has also commenced a front-end engineering and design study with Mitsui & Co., Ltd. to construct a greenfield low-carbon clean ammonia facility utilizing steam methane reforming (SMR) ammonia technology along with CCS at its Blue Point Complex in
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our manufacturing complexes in
About POSCO Holdings, Inc.
Posco Group plans to establish a "clean hydrogen business model" by leveraging the capabilities of its subsidiary companies engaged in various aspects of hydrogen production, transportation, storage, and utilization, aiming to establish a hydrogen production capacity of 7 million tons by 2050. In order to achieve this, Posco Holdings is actively promoting the development of various green and blue hydrogen projects, with a focus on strategic regions such as
Cautionary Statement: All statements in this communication by CF Industries Holdings, Inc. (together with its subsidiaries, the “Company”), other than those relating to historical facts, are forward-looking statements. Forward-looking statements can generally be identified by their use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will” or “would” and similar terms and phrases, including references to assumptions. Forward-looking statements are not guarantees of future performance and are subject to a number of assumptions, risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. These statements may include, but are not limited to, statements about strategic plans and management’s expectations with respect to the production of green and blue (low-carbon) hydrogen and ammonia, the development of carbon capture and sequestration projects, the transition to and growth of a clean energy economy, greenhouse gas reduction targets, projected capital expenditures, statements about future financial and operating results, and other items described in this communication.
More detailed information about factors that may affect the Company’s performance and could cause actual results to differ materially from those in any forward-looking statements may be found in CF Industries Holdings, Inc.’s filings with the Securities and Exchange Commission, including CF Industries Holdings, Inc.’s most recent annual and quarterly reports on Form 10-K and Form 10-Q, which are available in the Investor Relations section of the Company’s web site. It is not possible to predict or identify all risks and uncertainties that might affect the accuracy of our forward-looking statements and, consequently, our descriptions of such risks and uncertainties should not be considered exhaustive. There is no guarantee that any of the events, plans or goals anticipated by these forward-looking statements will occur, and if any of the events do occur, there is no guarantee what effect they will have on our business, results of operations, cash flows, financial condition and future prospects. Forward-looking statements are given only as of the date of this communication and the Company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Chris Close
Senior Director, Corporate Communications
847-405-2542 – cclose@cfindustries.com
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Darla Rivera
Director, Investor Relations
847-405-2045 – darla.rivera@cfindustries.com
Source: CF Industries Holdings, Inc