Steel Dynamics, Inc. announced the creation of a strategic joint venture with Aymium. Steel Dynamics owns 55% of the joint venture, with Aymium owning the remaining 45%. The entity will operate under the name SDI Biocarbon Solutions, LLC.

Initial plans for the joint venture include the construction and operation of a biocarbon production facility to supply Steel Dynamics' electric arc furnace steel mills with a renewable alternative to fossil fuel carbon using Aymium's patented technology. The initial facility's production capability is expected to be more than 160,000 metric tons per year, for an estimated capital investment of $125 million to $150 million. The facility is planned to begin operations late 2023.