ArcelorMittal has received a German state funding pledge for half the 110 million euros ($131 million) it plans to invest in a demonstration steel plant that will use hydrogen produced with renewable electricity.
Europe’s largest steelmaker ArcelorMittal and the Spanish government have signed an initial deal to contribute a total of €1bn ($1.18bn) towards investment in green steel projects in northern Spain, including a direct reduced iron (DRI) unit and hybrid electric arc furnace (EAF) in Gijon.
ArcelorMittal plans to increase its use of hydrogen-based Direct reduced iron (DRI) plants and explore “circular carbon” methods to decarbonise the steel production process.
During a meeting with metallurgical magnate Lakshmi Mittal, President Volodymyr Zelensky emphasized the need to introduce the latest steelmaking technologies in green steel. They will help to curtail the negative impact of industry on the environment.
PJSC ArcelorMittal Kryvyi Rih (AMKR) intends to achieve carbon neutrality – that is to comply with Green Deal standards, by 2050. This was stated by the company’s Chief Executive Officer Mauro Longobardo.
ArcelorMittal is looking for partners and public funding to curb carbon emissions from steelmaking in its German operations where alternative technology plans are far advanced, the European head of the world’s biggest steel producer said.
