In April 2018, the world's first converter gas to formic acid project was successfully started for trial production in Shandong Shiheng Special Steel Asd Technology Co. Ltd. and nearly 300 tons of formic acid was manufactured on the day, with its quality reaching an outstanding standard. The project is the first chemical and steel complex project in the world, built by Shiheng Special Steel with PKU Pioneer's PSA CO separation technology.

Product CO of 18,200Nm³/h and 98.5% was obtained from 45,000Nm³/h converter gas by dust removal, compression, desulfurization, dehydration, deoxygenation and pressure swing adsorption process to produce formic acid, oxalic acid and other chemical products.

The project covers an area of 820 mu, with two 100,000-ton formic acid and downstream products production lines, 50,000-ton oxalic acid production line, self-supply production line of formic acid and oxalic acid raw material gas, as well as supporting power and public auxiliary systems, etc.

Replacing the original coal gas, taking the steelmaking tail gases as the raw material gas lowered the user's relocation investment from the estimated ¥3.3 billion to ¥1.8 billion. Moreover, the upstream and downstream products were connected into a chain, which resulted in a comprehensive and efficient utilization of resources and energy, and explored a development route for the steel and chemical industry to unite. Now it has realized annual sales revenue of ¥2 billion, reduced coal usage by 1.02 million tons, wastewater discharge by 470,000 tons, and CO2 emissions by 320,000 tons.