Feds give Algoma Steel $4M for climate change projects
Changes will reduce greenhouse gas emissions and improve local air quality
The federal government is giving Algoma Steel $4 million so the company can make changes to help reduce greenhouse gas emissions.
Sault Ste. Marie MP Terry Sheehan made the announcement on Tuesday on behalf of the minister of environment and climate change, Jonathan Wilkinson.
The federal government says the money is coming from the Low Carbon Economy Fund and will support the company's climate change initiatives.
It says Algoma Steel will use the money to "improve both the tar removal and light oil recovery areas of its coke-making plant." It says the change will reduce greenhouse gas emissions and help improve local air quality.
The federal government says, as a result of the project, Algoma Steel will see "an annual reduction of approximately 21,000 tonnes of greenhouse gas emissions, amounting to a cumulative reduction of about 596,000 tonnes over the project's lifetime."
"That is equivalent to removing approximately 182,000 cars off the road for one year," the federal government stated in a release.
"Algoma Steel has joined with our Canadian peers in aiming to achieve net-zero carbon emissions by 2050," Michael McQuade, CEO of Algoma Steel said.
"It is an ambitious but important goal, one that requires the support of governments, research partners, customs and our supply chain along the way. The tar and light oil project brings use one step closer to that goal."