CHICAGO Carbonyx Inc. plans to build a chemical plant in Millwood, W.Va., that will make Cokonyx, a proprietary product that replaces coking coal as a steelmaking raw material.
"This means an investment of tens of millions of dollars and at least 60 good-paying jobs," West Virginia Gov. Earl Ray Tomblin said Nov. 21.
"The plants impact will reach beyond Jackson County: Carbonyx will use West Virginia coal to produce a key ingredient for steelmaking, which is in demand from major steel companies," he said.
"Its a natural fit to make West Virginia home to our carbon alloy facility due to its coal reserves, long-standing tradition with the steel industry ... and the quality of its people," Carbonyx chief executive officer Siddhartha Gaur said in statement. He couldnt be reached for additional comment Nov. 22.
Cokonyx is a carbon alloy that offers lower cost and less environmental impact than traditional coke, according to the Plano, Texas-based company, which will begin construction of the new plant next year.
Founded in 2000, Carbonyx has commercialized its carbon alloy research to produce Cokonyx, which uses several forms of carbon. The base raw material, coal, is blended with other carbonaceous substances at various points during a proprietary carbon alloy synthesis process.
After several critical reactions in a controlled environment, the resulting product is a semicrystalline carbon structure that has applications in the iron, steel and mineral processing industries.