CSTM - Constellium Ravenswood selected by US Department of Energy to receive $75 million investment to deploy low to zero carbon technology | Benzinga
PARIS, March 25, 2024 (GLOBE NEWSWIRE) -- Constellium SE (NYSE:CSTM) announced today that its facility located in Ravenswood, West Virginia, was selected by the U.S. Department of Energy (DOE) Office of Clean Energy Demonstrations to begin award negotiations for up to $75 million in Bipartisan Infrastructure Law and Inflation Reduction Act funding as part of the Industrial Demonstrations Program (IDP). This investment will help fund the implementation of breakthrough low-to-no emissions technologies in Constellium's Ravenswood facility, supporting the decarbonization of the casthouses, the plant's most energy intensive operation.
This investment will support the installation of low-emissions SmartMelt furnaces that can operate using a range of fuels, including clean hydrogen, paving the way towards a zero carbon casthouse. In addition to reducing carbon emissions, the project is expected to help maximize recycled scrap intake, and to improve worker safety with the introduction of a hands-free casting process.
The project will also contribute to the local communities around Ravenswood with a dedicated budget to build a new training and wellness center for all employees and an onsite childcare, and to provide financial and technical resources for local schools and universities.
Built in 1957, with over 1,200 employees, Constellium's plant in Ravenswood, West Virginia is one of the world's largest aluminium rolled products facilities. The facility produces plate, sheet, and coil products for aerospace, defense, transportation, marine, and industrial uses.
"We are honored and proud to have been selected for this investment and express our gratitude to the Department of Energy for their support of Constellium and the aluminium industry", said Jean-Marc Germain, CEO of Constellium. "Public investments such as the ones made through ...