London/Teesside 17 June 2026: Binding Solutions Limited (“BSL” or “the Company”) is pleased to announce it has successfully produced Cold Agglomerated Pellets (“CAPs”) from pellet fines, a by-product of the bulk handling and transportation of iron ore pellets. Pellet fines make up approximately 5% of the volume of indurated pellets.

BSL has successfully converted pellet fines from both blast furnace (“BF”) and direct reduction (“DR”) ore preparation processes into CAPs with low binder addition that have specifications equivalent to seaborne indurated pellets. The CAPs demonstrated strong physical and metallurgical results in testing, indicating their suitability for re-introduction to steel making furnaces.

DR steel makers currently sell pellet fines at a reduced rate as they must be removed from feedstocks to ensure stable operation of plants. By enabling DR steel makers to convert pellet fines into CAPs that can be added to the furnace, BSL’s technology captures significant value for the steelmaker.

BF steel makers commonly reprocess fines through sintering, a highly energy and emissions-intensive process. BSL’s CAP technology provides an immediate low carbon and low capex alternative to re-circulate pellet fines into the furnace.

BSL is continuing to expand R&D activities at its Technology Centre to provide a growing range of by-product and primary solutions to mining and steel companies. The Company’s by-product department, headed by Richard Joyce, is continuously developing solutions for multiple by-products with success agglomerating millscale, DRI fines and other by-products arising from integrated or standalone ironmaking. 

BSL’s CAPs enable reductions of over 80% in energy usage and CO₂ emissions. BSL’s technology is modular and can be co-located with mining sites, cutting capital requirements by 70% vs indurated pellets.

Jon Stewart, CEO of Binding Solutions, said:

“We are excited to confirm that we are converting pellet fines from the processing and handling of iron ore into high-grade pellets for steel making.

“Our energy-efficient CAPs are produced at low temperatures, deliver energy and emissions savings of over 80% and can be designed for a variety of iron ore types, making them commercially competitive while greening the steel industry.”

CONTACT

Binding Solutions

Aura Financial

Andy Mills / Khushi Hunt

+44 207 321 0000

bindingsolutions@aura-financial.com

NOTES TO EDITORS

About Binding Solutions Ltd

Binding Solutions is a fast-growing technology company that has developed a patented process for significantly reducing carbon emissions from steel production. Our Cold Agglomerated Pellets (CAPs) enable reductions of over to 80% in energy usage and 80% in CO2 emissions by replacing sinter and induration processes that account for approximately 15% of the sector’s emissions. Using our CAP technology can also cut capital requirements by 70% vs indurated pellets and reduce process complexity, delivering commercial benefits to iron ore miners, pellet producers and steel makers.

BSL’s technology can also be deployed to monetise waste fines from metals production by converting them into CAPs that can be added back to the furnace. Following successful blast furnace trials with British Steel in June 2025, BSL announced a MoU with the Salzgitter Group to undertake trials of BSL’s CAPs for blast furnace and direct reduction applications.

BSL’s advanced Technology Centre provides full life cycle testing for clients from lab scale to furnace trial. We are able to work with a wide variety of ores and to simulate conditions in all types of production furnaces.

In May 2025, BSL announced the signature of a Memorandum of Understanding to assess the potential for a state-of-the-art iron ore CAP plant at HES International’s HBTR terminal in Rotterdam, the largest dry bulk terminal in Europe.