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POSCO looks to turn byproduct gas into fuel

The world’s fourth-largest steelmaker POSCO announced Sunday that it has signed a memorandum of understanding with the U.S.-based bio-fuel manufacturer LanzaTech to produce ethanol using waste gases generated in blast furnaces.

Under the agreement, POSCO will use LanzaTech’s technology to produce ethanol from the carbon-rich waste gases using microbes.

The steelmaker plans to build necessary facilities near one of its steelworks in Korea.

The company said that while it has been using the waste gases as fuel within its facilities, converting the gases to ethanol and marketing the fuel will lead to more profitable ventures.