On Friday, Shares of ArcelorMittal (NYSE:MT), gained 2.92% to $9.16.
ArcelorMittal, LanzaTech, the carbon recycling company, and Primetals Technologies, a leading technology and service provider to the iron and steel industry recently declare they have reached a letter of intent to construct Europe`s first-ever commercial scale production facility to create bioethanol from waste gases produced during the steelmaking process. The resulting bioethanol can cut greenhouse gas emissions by over 80 per cent contrast with conventional fossil fuels. It will predominantly be used in gasoline blending, but it can also be further processed into other products such as drop in jet fuel.
The 47,000 ton ethanol/annum project, sufficient to fuel half a million cars with ethanol blended gasoline, will demonstrate the added value of recycling waste streams, not only by reducing emissions at source, hence reducing ArcelorMittal`s direct carbon footprint, but by keeping fossil fuels in the ground through the production of commodity chemicals and fuels that would otherwise be made from oil.
About 50 per cent of the carbon used in the chemistry of steelmaking leaves the process as carbon monoxide. Recently, this waste gas stream is combusted as carbon dioxide and either flared or used to heat and power the steel mill. In either case, the resulting CO2 is emitted.
ArcelorMittal, together with its auxiliaries, operates as an integrated steel and mining company worldwide. The company operates through five segments: NAFTA; Europe; Brazil and Neighboring Countries (Brazil); Africa & Commonwealth of Independent States (ACIS); and Mining. It produces finished and semi-finished steel products.
Shares of NiSource Inc. (NYSE:NI), inclined 0.96% to $16.91, during its last trading session.
NiSource, declared that on July 3, 2015 its Board of Directors elected Kevin T. Kabat to the Board. He will also serve on the Board’s Audit and Finance committees.
Mr. Kabat presently serves as chief executive officer of Fifth Third Bancorp, a position he has held since April 2007, and vice chairman. Before becoming CEO, he served as president since 2006 after leading both retail and associate banking. He was formerly vice chairman and president of Old Kent Bank, which was attained by Fifth Third Bancorp in 2001.
Mr. Kabat has been a director at Unum Group since 2008. He is a member of the board at the Federal Reserve Bank of Cleveland, the Financial Services Roundtable and the Cincinnati Art Museum. Kabat formerly served on the Board of Directors of Davenport University, Lacks Industries, Clark Retirement Community, Grand Rapids Foundation, ADAC Plastics, Right Place Inc., Spectrum Hospital, the Consumer Bankers Association, Michigan Business Roundtable and United Way of Greater Cincinnati.
NiSource Inc., an energy holding company, provides natural gas, electricity, and other products and services in the United States. It operates through three segments: Gas Distribution Operations, Columbia Pipeline Group Operations, and Electric Operations.
Finally, Time Inc. (NYSE:TIME), ended its last trade with 2.47% gain, and closed at $23.24.
Time Inc., declared that it has signed a long-term lease at Industry City in Brooklyn, New York. More than 300 employees in the company’s Technology, Content Solutions and Editorial Innovation departments will move to a 55,000 square-foot facility in the Sunset Park complex at the end of the year.
Time Inc.’s move to Industry City coincides with the relocation of its headquarters to 225 Liberty Street in Lower Manhattan from the Time & Life Building at 1271 Avenue of the Americas at 50th Street, where it has operated since 1959.
Time Inc., together with its auxiliaries, operates as a media company that publishes magazines in the United States, the United Kingdom, and internationally. It publishes magazines under People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune, and Food & Wine names in the United States, in addition to about 50 diverse titles in the United Kingdom, such as Decanter and Horse & Hound.
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