Process Simulation and Economic Feasibility Analysis for a Hydrogen‐Based Novel Suspension Ironmaking Technology

A novel gas‐solid suspension ironmaking process is under development at the University of Utah, which would greatly reduce energy consumption and carbon dioxide emission compared with current blast furnace technology. The proposed process is based on the flash reduction of iron ore concentrate using a gaseous reagent, such as hydrogen, syngas, natural gas or a combination of thereof. A process flow sheet of the proposed ironmaking process using purchased hydrogen was constructed and then simulations were performed at several potential operating conditions. Ironmaking was simulated using two different process configurations. The simulation results show that the required fresh hydrogen would increase with higher excess driving force and operating temperature, but not greatly when hydrogen is preheated. Compared with the average blast furnace process, the proposed process would reduce energy consumption by 57 ‐ 60%, using the higher heating value of hydrogen (71 – 73%, if the lower heating value is used), when hydrogen and coal are considered as the starting materials in the respective processes. The economic feasibility analysis using net present value (NPV) indicates that the proposed process could be economically feasible at elevated hot metal prices and/or if reduction in carbon dioxide emissions has a significant value in a cap and trade scenario.