Binding Solutions secures supply deals for low-carbon steel plant on Teesside

Binding Solutions (BSL) has signed memorandums of understanding for two million tonnes of iron ore supply and two million tonnes of pellet offtake, far exceeding the planned 360,000 tonnes per year capacity of its first-of-a-kind low-carbon steel plant on Teesside. The facility uses cold agglomerated pellet (CAP) technology that operates at lower temperatures and consumes significantly less energy than conventional methods, with claims of cutting energy use and pollution by more than 80 percent. The company is currently testing the technology at a pilot site that produces up to two tonnes of pellets per hour. A final investment decision for the full-scale factory is expected in 2027. The pellets are compatible with multiple steelmaking routes and various iron ore types, which could make them attractive to global steel producers looking to reduce emissions.