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AK Steel Receives $1.8 Million Award From the U.S. Department of Energy to Develop Next Generation Electrical Steels for Automotive Hybrid and Electric Vehicles

WEST CHESTER, OH–(Marketwired – May 17, 2017) – AK Steel (NYSE: AKS) announced today that it has accepted an award of up to $1.8 million from the U.S. Department of Energy (DOE) under the Advanced Manufacturing Office’s Next Generation Electric Machines (NGEM) program to develop the next generation of advanced, non-oriented electrical steels (NOES) for motors used in a wide variety of industrial and automotive applications, including hybrid electric vehicles.