Nucor Named to Fast Company’s Annual List of the World’s Most Innovative Companies

Nucor Named to Fast Company’s Annual List of the World’s Most Innovative Companies image

Nucor has been named to Fast Company’s prestigious list of the World’s Most Innovative Companies of 2024, ranking as the sixth most innovative company in the manufacturing category.

This year’s list shines a spotlight on businesses that are shaping industry and culture through their innovations. These organizations are setting new standards and achieving remarkable milestones in all sectors of the economy. Alongside the World's 50 Most Innovative Companies, Fast Company recognizes 606 organizations across 58 sectors and regions.

The award focuses on how companies’ innovations are leading their industries forward. Nucor has been leading the movement for sustainable steel for more than 50 years, paving the road for the industry’s route to zero through partnerships and breakthrough clean energy technologies to minimize emissions.

In 2023, Nucor made critical advances in leading the manufacturing and use of sustainable, circular steel including:

  • Opened the world's first LEED v4 certified steel mill in Brandenburg, Kentucky, strategically located in the US’ largest steel plate-consuming region, reinforcing Nucor’s commitment to a low-carbon future.
  • Created a circular, closed-loop system alongside Johnson Controls (JCI) to recycle nearly 100% of their scrap steel, gathering thousands of tons of used steel to remelt at Nucor facilities into new steel for JCI’s use.
  • Introduced the first all-electric trucking route in collaboration with Nikola and PGT Trucking to reduce emissions from steel transportation by swapping heavy-duty semi-trucks for battery-electric trucks.
  • Committed to capturing and storing carbon emissions from Nucor’s Louisiana manufacturing facilities via a partnership with ExxonMobil. The partnership will help prevent up to 800,000 tons of CO2 per year from being released into the atmosphere by capturing it and safely annexing it in geological formations such as depleted oil and gas reservoirs or saline aquifers.
  • Invested in Electra to help scale carbon-free iron technology, which has the potential to revolutionize not only Nucor’s steelmaking, but the entire industry by replacing higher carbon inputs to the steelmaking process with sustainable alternatives.
  • Introduced Elcyon™, the first and only domestically manufactured, sustainable steel plate designed specifically for offshore wind applications.

Most Innovative Companies is judged by more than three dozen editors and writers, who leverage their expertise to assess the innovations—and the impact of those efforts—of thousands of companies. Fast Company's editorial team considers the financial results of an innovation, its ripple effect across an industry or the broader culture, and its positive societal impact.

Within a hard-to-abate sector, Nucor is taking a leadership position to advance sustainability goals by making never-seen-before strides toward decarbonizing steel production and use. We are committed to working alongside partners across the automotive, energy, tech and public sectors on innovative solutions that will drive industrial decarbonization at scale. These innovations also enable Nucor’s partners and customers to use steel more sustainably and efficiently, strengthening our collective impact. Investing in and advancing our commitment to lead partners on their sustainability journey is an investment in Nucor's people, industry safety, cross-industry partnerships, and the broader environment.