Press Release

Praxair and Midrex Sign Strategic Alliance Agreement to Commercialize New Technology to Produce DRI Using Alternate Fuels

June 18, 2012 Download

Charlotte, NC – Midrex Technologies, Inc. and Praxair, Inc. (NYSE: PX) have signed a strategic alliance agreement to develop and market a new Thermal Reactor System™ that will allow the production of direct reduced iron (DRI) with a variety of fuels such as coke oven gas. The Thermal Reactor System™ will use an innovative partial oxidation technology to convert hydrocarbon fuels into high quality, high temperature syngas suitable for DRI production.

“Midrex is the global market leader in shaft furnace DRI technology and we are very excited to be working with them,” said Pravin Mathur, director of Business Development for Praxair. Under this alliance, Midrex and Praxair will perform a demonstration of the new technology at Midrex’s extensive DRI research facilities in Charlotte, NC later this year.

“With the help of Praxair’s unique technology, we can open up new markets and offer more attractive choices for the production of DRI, especially in regions where traditional DRI fuels such as natural gas are not economically available,” said Stephen Montague, Vice President of Sales and Marketing for Midrex Technologies, Inc.

Praxair, Inc. is the largest industrial gases company in North and South America and one of the largest worldwide, with 2011 sales of $11 billion. The company produces, sells and distributes atmospheric and process gases and high-performance surface coatings. Praxair products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the internet at www.praxair.com.

Midrex Technologies, Inc., a wholly owned subsidiary of Kobe Steel Limited, is the world leader in DRI technology. In 2011, 80 percent of the 64 million metric tons of DRI produced in the world via the shaft furnace route was produced utilizing the MIDREX® Direct Reduction Process. More than 11 million tons of new MIDREX® annual capacity will be commissioned and started up within the next two years. Midrex maintains, develops, sells and supports MIDREX® Direct Reduction Technologies worldwide with strategic partners and companies such as Kobe Steel Ltd., Siemens VAI, the SMS Group, Köppern, Aumund and Praxair to provide innovative and proven solutions for today’s steel industry. For more information on Midrex or its direct reduction technologies, please visit www.midrex.com.