Century Aluminum Selected by U.S. Department of Energy to Receive $500 Million Investment to Build New Green Aluminum Smelter to Accelerate Industrial Decarbonization

CHICAGO, March 25, 2024 (GLOBE NEWSWIRE) -- Today, Century Aluminum Company (NASDAQ: CENX) (“Century”) was selected by the U.S. Department of Energy (“DOE”) Office of Clean Energy Demonstrations to begin award negotiations for up to $500 million in Bipartisan Infrastructure Law and Inflation Reduction Act funding to build a new aluminum smelter as part of the Industrial Demonstrations Program (“IDP”). Century’s Green Aluminum Smelter Project is one of 33 projects across more than 20 states to receive funding designed to demonstrate commercial-scale decarbonization solutions needed to move energy-intensive industries toward net-zero while strengthening local economies, creating, and maintaining high-quality jobs, and slashing greenhouse gas emissions.

With the help of this funding, Century plans to build the first new U.S. primary aluminum smelter in 45 years. Upon completion, the smelter would double the size of the current U.S. primary aluminum industry.

This historic investment represents a major capital injection for the U.S. primary aluminum industry. The Project will strengthen domestic supply chains for materials critical for the green energy transition, including electric vehicles, renewable-energy production and storage, building and construction, and sustainable packaging.  

“We are extremely proud that the DOE has selected Century’s Green Aluminum Smelter Project to receive such significant support, and we are excited to continue moving this transformational project forward,” remarked Century CEO, Jesse Gary. “The Project embodies a great many goals and aspirations shared by all our stakeholders including providing a tremendous win for the domestic, primary aluminum industry and the broader U.S. economy, strengthening domestic supply chains of critical materials, protecting our national security interests, and building a more sustainable future for generations to come."

Century expects to build this new smelter at a site within the Ohio/Mississippi River Basins. This project is expected to create more than 1,000 full-time jobs represented by the United Steelworkers and over 5,500 construction jobs. Century plans to collaborate with job training organizations and local technical colleges to recruit and train employees from the local community where the smelter is located.

Century Aluminum is an integrated producer of bauxite, alumina and primary aluminum products. Century is the largest producer of primary aluminum in the United States and also operates production facilities in Iceland, the Netherlands and Jamaica.