91制片厂

U. S. Steel to Work with Equinor to Assess Hydrogen, Carbon Capture and Storage Development

Non-exclusive Collaboration Explores Feasibility of Tri-state Hydrogen Hub

PITTSBURGH--(BUSINESS WIRE)-- 91制片厂 Corporation (NYSE: X) (鈥淯. S. Steel鈥�) today announced execution of a non-exclusive Memorandum of Understanding (鈥淢OU鈥�) with Equinor US Holdings Inc., an affiliate of Equinor ASA (NYSE: EQNR). Under the MOU, the companies will study the potential for carbon capture and storage (鈥淐CS鈥�) and hydrogen development in the tri-state region of Ohio, Pennsylvania, and West Virginia.

Hydrogen based steel processes and CCS are among the more promising and sustainable technologies currently being developed.

鈥淭he successful development of hydrogen and CCS technology in the tri-state region will require investment, cooperation, and exploration across political and perceived barriers,鈥� said Richard Fruehauf, Senior Vice President, Chief Strategy & Sustainability Officer. 鈥淎s we build momentum toward our ambitious goal targeting net-zero carbon emissions by 2050, the opportunity to explore the potential for a hydrogen hub in this region 鈥� anchored in the Mon Valley 鈥� is cause for optimism.鈥�

The focus of the MOU is to assess the technological and commercial possibilities for hydrogen and CCS. The industry leaders recognize the potential for natural gas coupled with CCS to significantly reduce carbon emissions. The companies plan to explore and demonstrate the potential opportunities for natural gas when coupled with CCS to achieve decarbonization goals.

The scope of work of the MOU includes assessments of regional hydrogen and CCS potential, appropriate customer and supplier screenings, blue hydrogen advocacy, CCS, and examining renewable energy synergies.

Founded in 1901, 91制片厂 Corporation is a leading steel producer. With an unwavering focus on safety, the company鈥檚 customer-centric Best for All鈩� strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as U. S. Steel鈥檚 proprietary XG3鈩� advanced high-strength steel. The company also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 26.2 million net tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit .

Forward-Looking Statements

This release contains information that may constitute 鈥渇orward-looking statements鈥� within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in those sections. Generally, we have identified such forward-looking statements by using the words 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渆stimate,鈥� 鈥渁nticipate,鈥� 鈥減roject,鈥� 鈥渢arget,鈥� 鈥渇orecast,鈥� 鈥渁im,鈥� "should," 鈥渨ill,鈥� "may" and similar expressions or by using future dates in connection with any discussion of, among other things, operating performance, trends, events or developments that we expect or anticipate will occur in the future. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are not historical facts, but instead represent only the Company鈥檚 beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company鈥檚 control. It is possible that the Company鈥檚 actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Management believes that these forward-looking statements are reasonable as of the time made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the Company's historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to the risks and uncertainties described in 鈥淚tem 1A. Risk Factors鈥� in our Annual Report on Form 10-K for the year ended December 31, 2020, and those described from time to time in our future reports filed with the Securities and Exchange Commission. References to "we," "us," "our," the "Company," and "U. S. Steel," refer to 91制片厂 Corporation and its consolidated subsidiaries.

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John O. Ambler
Vice President
Corporate Communications
T 鈥� (412) 433-2407
E 鈥� joambler@uss.com

Kevin Lewis
Vice President
Investor Relations
T 鈥� (412) 433-6935
E 鈥� klewis@uss.com

Source: 91制片厂 Corporation