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German government commits to decarbonization support for ArcelorMittal

The German government has pledged €2.5 billion ($2.73 billion) in financing to decarbonize steel production at ArcelorMittal's Bremen and Eisenhüttenstadt plants, as soon as funding approval is granted by Brussels.

German government commits to decarbonization support for ArcelorMittal

The Federal Ministry for Economic Affairs and Climate Protection intends to support ArcelorMittal's DRIBE project for the transition to production using green hydrogen-based direct reduced iron feedstock, initially produced in Bremen. ArcelorMittal has applied to the Brussels authorities for financial support in 2021.

Reiner Blaschek, Chief Executive Officer of ArcelorMittal Germany, said in a statement that ArcelorMittal is ready to move forward on the decarbonization path.

"At our sites in Bremen and Eisenhüttenstadt, we are taking concrete steps to prepare for the construction of plants as far as possible before the EU funding commitment. This will help us to realize the change in the way of production, which requires a complete change of technology. As soon as all approvals are in place and conditions are favorable, we can prepare the next phase and start implementation quickly," he added.


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