ArcelorMittal Europe Invests in Modern Steelmaking Technologies

SEATTLE (Scrap Monster): ArcelorMittal Europe announced its decision to invest in breakthrough technologies to help the company achieve significant reduction in carbon emissions. The integrated steelmaker aims to reduce carbon dioxide emissions by 30% by 2030 and attain carbon-neutrality by 2050.

In the first climate action report published yesterday, the company outlines investment in two carbon-neutral routes for steelmaking-smart carbon and DRI-based. The smart carbon route leverages all clean energies within the iron-making process, with primary focus on use of circular carbon. The route via DRI involves replacement of natural gas with hydrogen in the company’s iron-making procedure.

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According to the company, both the routes have the potential to deliver carbon-neutral steel by 2050. The smart carbon route uses complementary technologies, which helps it to deliver results sooner. In the longer run, both routes have the potential to leverage all three clean energies- clean electricity, circular carbon, carbon capture and storage.

ArcelorMittal Europe estimates an investment of €15-25bn for full implementation of Smart Carbon and €30-40bn for the DRI-based route. The associated clean energy infrastructure requires an investment of additional €15–200bn.