Algoma Steel Applauds Approval of New 230kV Transmission Line in Sault Ste. Marie, Supporting Regional Growth and Green Steel Transition

August 29, 2024

Algoma Steel Applauds Approval of New 230kV Transmission Line in Sault Ste. Marie, Supporting Regional Growth and Green Steel Transition

Algoma Steel Group Inc., a leading Canadian producer of hot and cold rolled steel sheet and plate products, on August 28th, congratulates PUC (Transmission) LP (“PUC Transmission”) and Hydro One Sault Ste. Marie LP (“Hydro One”) on each obtaining authorization pursuant to the Ontario Energy Board Act to construct a new 230kV transmission line and related transformation components in Sault Ste. Marie. The combined local transmission project improves the city’s access to Hydro One’s planned regional grid infrastructure upgrade as previously prioritized by the Province of Ontario.

“This milestone marks a significant advancement in enhancing Sault Ste. Marie’s power infrastructure, which is vital for supporting sustainable economic growth and our transformation to electric arc steelmaking—a key part of our commitment to environmental sustainability,” said Michael Garcia, President and Chief Executive Officer of Algoma Steel.

The Ontario Energy Board (OEB) confirmed that the transmission project comprises network facilities and affirmed that no capital contribution from Algoma Steel is required. Additionally, the OEB determined that the transmission rate impacts anticipated from the projects are reasonable.

This achievement was driven by the combined efforts of PUC Transmission and Hydro One in their applications, as well as Batchewana First Nation and other supporting interveners, and underscores the strong commitment by the Province of Ontario to enable investment in critical infrastructure that underpins the economic growth of our city and region. Mr. Garcia commented, “the collaboration between these organizations highlights dedication to ensuring that Sault Ste. Marie has reliable power needed to support both industrial advancement and community prosperity”.

“Algoma Steel is proud to contribute to the sustainable development of Sault Ste. Marie and to support the future of green steel production in Ontario. We remain committed to delivering innovative and responsible steel solutions that benefit both the community and the environment.”

Cautionary Statement Regarding Forward-Looking Statements

This news release contains “forward-looking information” under applicable Canadian securities legislation and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”), including statements regarding Algoma’s transition to electric arc furnace (EAF) steelmaking, including the requirements for the completion of the Company’s EAF project the advancement of Sault Ste. Marie’s power infrastructure, including the reliability and sufficiency thereof as it relates to the EAF project,

and that Algoma will not be required to contribute to the transmission project, Algoma’s future as a leading producer of green steel, Algoma’s modernization of its plate mill facilities, transformation journey, commitment to deliver innovative and responsible steel solutions that benefit both the community and the environment, ability to deliver greater and long- term value, ability to offer North America a secure steel supply and a sustainable future, and investment in its people, and processes.

These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “design,” “pipeline,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this document.

Readers should also consider the other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Information” in Algoma’s Annual Information Form, filed by Algoma with applicable Canadian securities regulatory authorities (available under the company’s SEDAR profile at www.sedar.com) and with the SEC, as part of Algoma’s Annual Report on Form 40-F (available at www.sec.gov), as well as in Algoma’s current reports with the Canadian securities regulatory authorities and SEC. Forward-looking statements speak only as of the date they are made.

Readers are cautioned not to put undue reliance on forward-looking statements, and Algoma assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

About Algoma Steel Group Inc.

Based in Sault Ste. Marie, Ontario, Canada, Algoma is a fully integrated producer of hot and cold rolled steel products including sheet and plate. Driven by a purpose to build better lives and a greener future, Algoma is positioned to deliver responsive, customer-driven product solutions to applications in the automotive, construction, energy, defense, and manufacturing sectors. Algoma is a key supplier of steel products to customers in North America and is the only producer of discrete plate products in Canada. Its state-of-the-art Direct Strip Production Complex (“DSPC”) is one of the lowest-cost producers of hot rolled sheet steel (HRC) in North America.

Algoma is on a transformation journey, modernizing its plate mill and adopting electric arc technology that builds on the strong principles of recycling and environmental stewardship to significantly lower carbon emissions. Today Algoma is investing in its people and processes, working safely, as a team to become one of North America’s leading producers of green steel.

As a founding industry in their community, Algoma is drawing on the best of its rich steelmaking tradition to deliver greater value, offering North America the comfort of a secure steel supply and a sustainable future as your partner in steel.

Source

More Information

For more information, please contact:

Laura Devoni
Director – Human Resources & Corporate Affairs
Algoma Steel Group Inc.
Phone: 705.255.1202
E-mail: communications@algoma.com

Related Story

Algoma Steel Installs First Structural Columns for Electric Arc Steel Shop

Algoma Steel Group Inc. announced that the Company installed the first structural steel columns at its electric arc steel making facility (‘EAF’) in Sault Ste. Marie, Ontario Canada. Ontario Premier Doug Ford visited the site to commemorate the project milestone.

Related Articles


Latest Articles

  • Bossard is Scaling Front Line Flexibility

    September , 2025 Experience Smart Factory Solutions that Adapt to Your Operators’ Needs at FABTECH 2025 By Krystie Johnston Bossard is bringing the future of assembly and inventory management to FABTECH 2025 from September 8 – 11. Visit them at Booth #B13000, at the North Hall in the Automation Pavilion at McCormick Place in Chicago… Read More…

  • Festo’s Customer Solutions Group: Tailor-Made Added Value for Maximum Success

    Festo’s Customer Solutions Group: Tailor-Made Added Value for Maximum Success

    September 4, 2025 By Krystie Johnston Festo is a global leader in the motion industry, and for more than a century, they have focused on innovations that support their customers across industries and around the world. Their commitment to this shows in every facet of their company, from Corporate and Didactic to their automation products,… Read More…


Featured Article

Revolutionizing Material Movement with Autonomous Mobile Robots

Revolutionizing Material Movement with Autonomous Mobile Robots

In today’s fast-paced manufacturing and logistics industries, the need for efficient and flexible material movement solutions has never been greater. Traditional methods like conveyor systems, forklifts, and manual pushcarts have served us well, but they come with limitations.

That’s why Omron is thrilled to announce the launch of their game-changing MD Series of Autonomous Mobile Robots (AMRs). Read more


Products

  • I/O System IP20 Maximum Efficiency in the Panel from Weidmüller 

    September 4, 2025 Maximum efficiency, great system performance and space-optimised: meet the most innovative I/O system on the market. Handle your projects with maximum performance. u-remote speeds up your installation process and makes your machines start-up faster. The seamlessly pluggable system means you can rely on your intuition and trust that there will be no… Read More…

  • S8VK-X24024A Switch Mode Power Supply from Omron

    September 5, 2025 A DIN rail power supply with Ethernet/IP and Modbus TCP communications for continuous monitoring The S8VK-X is an advanced DIN rail power supply that provides real-time monitoring of the power supply life, voltage, current, and peak current. These built-in features allow predictive maintenance to be performed on industrial equipment. Omron provides a… Read More…