Company announces $600 million 'micro-mill' factory that could transform steel industry: 'This … will clearly set the new standard'

Thanks to Pacific Steel Group, steel production just got greener.

Steel is responsible for around 7% of carbon emissions in the entire world, according to Bloomberg.

Pacific Steel Group aims to change that. This year, the company secured a $200 million loan to construct a new factory powered by renewable energy. The "micro-mill" will be built in California's Mojave Desert, where it will take full advantage of wind energy. By the end of construction, it will cost around $600 million.

It's not completely powered by wind, though. Pacific plans to build rebar from reused, local scrap. These initiatives will make the factory the first green steel mill in the state of California, per Bloomberg.

If you think sustainable equals slow, you're dead wrong. CEO Eric Benson told Bloomberg that "the operations will allow it to move the rebar to market 'at a very efficient' pace."

The change comes not a moment too soon. According to Kunak, almost 2 tons of carbon dioxide are released into the air per every ton of steel, making "fossil fuel-driven steel production [emerge] as one of the principal sources of carbon emissions worldwide."

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This lowers the planet's air quality, harming people's lungs and overall health. Steel plants also release particles called "volatile organic compounds" into the air, which contribute to smog.

A greener steel plant means cleaner lungs for the people living nearby. If more plants adopt Pacific's methods, public health — and the planet — will be better for it.

Though Pacific is treading new territory in the steel industry, companies and scientists worldwide are developing cutting-edge, planet-friendly tech. Researchers from ETH Zurich, a Swiss university, are using leftover waste from marble quarrying to make recycled air purifiers. In Japan, scientists are revolutionizing the lithium-ion battery with solid electrolytes, making production cleaner.

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With companies such as Pacific Steel Group, the future of sustainability is clear. As Bill Sonneborn, president of Generate Capital, told Bloomberg, "This plant will clearly set the new standard for steel."