The chemistry of ironmaking is essentially the same today as it has been since the days of Abraham Darby.
Carbon reacts with oxygen to form carbon monoxide, which then reacts with iron oxide removing the oxygen from the iron oxide molecule.
The industry has been looking for solutions to dependence on DSO, pellets or sintering as well as moving away from Coking Coal or Metallurgical Coal. We have come up with a technology that can use fines and thermal coal with the efficiency of a blast furnace and lower CO2 emissions by at least 30%. Our Patents cover all these areas in our new innovative furnace design.
Why Virgin Iron Units makes good business sense today:
Currently the North American Steel Market is over 70% Electric Arc Furnace (EAF) based and rising. Recycling scrap is growing across the world and an expected shortage worldwide by 2020. Our technical solution addresses the gap and allows for growing this niche market while bridging the gap between the current miners and future miners.
With a growing percentage of re-melting scrap, virgin iron units as a supplement to scrap are necessary. We are seeing more and more DRI capacity being discussed in North America, where cheap natural gas is available. 100% metal is still the best feed to a EAF unit which is what we are proposing.
NSGI Steel Inc. has selected Baie-Comeau, Quebec, Canada for their first commercial demonstration plant. We expect to bridge the gap between miners and the growing EAF steel industry while helping efficiencies of miners with fines, chips as simple examples that can be turned into value added products. In addition we expect to be able to help the current miners with optimized cost structures and grow their potential markets beyond the blast furnace industry.
C + O2 = CO
CO + FeO = Fe + CO2