FORT
WAYNE, Ind., Oct. 30,
2024 /PRNewswire/ -- Steel Dynamics, Inc. (NASDAQ/GS:
STLD) today announced that they recently joined the U.S.
Environmental Protection Agency's (EPA) Green Power Partnership
(GPP). Steel Dynamics was recognized by the U.S. EPA appearing
number 21 on their list of Green Power Partners from the Fortune
500® and number 33 on their National Top 100 List of the largest
green power users from the GPP. In 2023, Steel Dynamics steel mills
utilized 690 million kilowatt-hours (kWh) of green power, which is
enough to meet 10 percent of its steel mill operations' electricity
use and achieve its 2025 renewable electrical energy goal.
"We are proud to be recognized by the U.S. EPA for our use of
green power," said Jeff Hansen, Vice
President Environmental Sustainability. "By making the choice to
use renewable power in our energy mix, we are reducing our
emissions footprint, while also supporting the build-out of the
renewable power market and development of those resources."
"This list of the largest users of green power across the nation
is proof that good business practices can also benefit the
environment," said James
Critchfield, Program Director of EPA's Green Power
Partnership. "EPA applauds the leading organizations in the Green
Power Partnership's Top Partner Rankings for their notable
commitment to expanding their use of green power and protecting the
environment."
In 2023, Steel Dynamics signed the largest renewable product
purchase agreement for the steel industry in North America, equivalent to approximately 15%
of the company's steel mills' electricity usage. This wind energy
center began commercial operation in the first quarter of 2024 and
represents the single most significant step in increasing its
exposure to renewable energy, propelling the company much of the
way to its 2030 goal of 30% renewable electricity. This project is
also expected to meaningfully contribute to its long-term reduction
of Scope 2 greenhouse gas emissions intensity.
Steel Dynamics is already a leader in producing lower-carbon,
high-quality steel products and plans to continue to play a
leadership role in decarbonization.
About EPA's Green Power Partnership
The Green Power
Partnership is a voluntary program that helps increase green power
use among U.S. organizations to advance the American market for
green power and development of those sources as a way to reduce air
pollution and other environmental impacts associated with
electricity use. In 2022, the Partnership had nearly 700 Partners
voluntarily using nearly 95 billion kilowatt-hours of green power
annually. Partners include a wide variety of leading organizations
such as Fortune 500® companies; small and medium sized businesses;
local, state, and federal governments; and colleges and
universities. For additional information, please visit
www.epa.gov/greenpower.
About Steel Dynamics, Inc.
Steel Dynamics is one of
the largest domestic steel producers and metals recyclers in
North America, based on estimated
annual steelmaking and metals recycling capability, with facilities
located throughout the United
States, and in Mexico.
Steel Dynamics produces steel products, including hot roll, cold
roll, and coated sheet steel, structural steel beams and shapes,
rail, engineered special-bar-quality steel, cold finished steel,
merchant bar products, specialty steel sections, and steel joists
and deck. In addition, the company produces liquid pig iron and
processes and sells ferrous and nonferrous scrap.
Forward-Looking Statements
This press release
contains some predictive statements about future events, including
statements related to conditions in domestic or global economies,
conditions in steel, aluminum, and recycled metals market places,
our revenues, costs of purchased materials, future profitability
and earnings, the operation of new, existing or planned facilities
and decarbonization goals and sustainability efforts. These
statements, which we generally precede or accompany by such typical
conditional words as "anticipate", "intend", "believe", "estimate",
"plan", "seek", "project", or "expect", or by the words "may",
"will", or "should", are intended to be made as "forward-looking",
subject to many risks and uncertainties, within the safe harbor
protections of the Private Securities Litigation Reform Act of
1995. These statements speak only as of this date and are based
upon information and assumptions, which we consider reasonable as
of this date, concerning our businesses and the environments in
which they operate. Such predictive statements are not guarantees
of future performance, and we undertake no duty to update or revise
any such statements. Some factors that could cause such
forward-looking statements to turn out differently than anticipated
include: (1) domestic and global economic factors; (2) global
steelmaking overcapacity and imports of steel, together with
increased scrap prices; (3) pandemics, epidemics, widespread
illness or other health issues; (4) the cyclical nature of the
steel industry and the industries we serve; (5) volatility and
major fluctuations in prices and availability of scrap metal, scrap
substitutes and supplies, and our potential inability to pass
higher costs on to our customers; (6) cost and availability of
electricity, natural gas, oil, and other energy resources are
subject to volatile market conditions; (7) increased environmental,
greenhouse gas emissions and sustainability considerations from our
customers or related regulations; (8) compliance with and changes
in environmental and remediation requirements; (9) significant
price and other forms of competition from other steel and aluminum
producers, scrap processors and alternative materials; (10)
availability of an adequate source of supply of scrap for our
metals recycling operations; (11) cybersecurity threats and risks
to the security of our sensitive data and information technology;
(12) the implementation of our growth strategy; (13) litigation and
legal compliance; (14) unexpected equipment downtime or shutdowns;
(15) governmental agencies may refuse to grant or renew some of our
licenses and permits required to operate our business; (16) our
senior unsecured credit facility contains, and any future financing
agreements may contain, restrictive covenants that may limit our
flexibility; and (17) the impacts of impairment charges.
More specifically, we refer you to our more detailed explanation
of these and other factors and risks that may cause such predictive
statements to turn out differently, as set forth in our most recent
Annual Report on Form 10-K under the headings Special Note
Regarding Forward-Looking Statements and Risk Factors, in our
Quarterly Reports on Form 10-Q, or in other reports which we file
with the Securities and Exchange Commission. These reports are
available publicly on the Securities and Exchange Commission
website, www.sec.gov, and on our
website, www.steeldynamics.com under "Investors – SEC
Filings."
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SOURCE Steel Dynamics, Inc.
