Century Aluminum Says Selected By US Department Of Energy To Receive $500M Investment To Build New Green Aluminum Smelter To Accelerate Industrial Decarbonization
Portfolio Pulse from Benzinga Newsdesk
Century Aluminum (CENX) has been selected by the US Department of Energy to receive a $500M investment for building a new green aluminum smelter, aimed at accelerating industrial decarbonization. This will be the first new U.S. primary aluminum smelter in 45 years, potentially doubling the size of the current U.S. primary aluminum industry upon completion.
March 25, 2024 | 10:01 am
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Century Aluminum is set to receive a $500M investment from the US Department of Energy for a new green aluminum smelter, which could double the size of the U.S. primary aluminum industry.
The $500M investment from the US Department of Energy is a significant financial boost for Century Aluminum, enabling the company to undertake a major expansion with the construction of a new green aluminum smelter. This project not only aligns with global trends towards sustainability and decarbonization but also positions Century Aluminum at the forefront of the U.S. aluminum industry's expansion. The potential doubling of the U.S. primary aluminum industry's size signifies a substantial increase in Century Aluminum's production capacity and market share, likely leading to increased investor confidence and a positive impact on the company's stock price in the short term.
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