The European Commission approved €515 million for ArcelorMittal as part of the EU hydrogen strategy to decarbonize steel production in Spain and Germany and reduce reliance on Russian fossil fuels.
Among them will be €460 million to assist ArcelorMittal in partially decarbonizing its steel production at its Gijon plant in northwest Spain.
The European Commission approved €515 million for ArcelorMittal as part of the EU hydrogen strategy to decarbonize steel production in Spain and Germany and reduce reliance on Russian fossil fuels. Among them will be €460 million to assist ArcelorMittal in partially decarbonizing its steel production at its Gijon plant in northwest Spain.
The conversion of the Gijon plant will include the construction of a direct reduced iron plant based on renewable hydrogen. The new plant could begin production by the end of 2025. By producing 2.3 million tons of low-carbon DRI per year, it is expected to save 70.9 million tons of CO2 emissions.
The remaining EUR 55 million will be used in Hamburg to construct a DRI demonstration plant using 100% renewable hydrogen with an annual capacity of 100,000 tons.
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