ArcelorMittal to Fund Steel Sector Decarbonisation Drive

SEATTLE (Scrap Monster): ArcelorMittal announced its support to breakthrough technologies that hold the potential to accelerate the decarbonisation drive of steel industry. The selected ideas and projects will be funded through ArcelorMittal’s XCarb Innovation Fund.

The steelmaker invited applications from technology start-ups across the globe to compete for investment from the Fund, which targets investments of up to $100 million per year in transformative technologies. It supports technological advancements with the potential to transition to low or zero carbon emissions and scale them up to a level where they could be implemented on a commercial scale.

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The finalists will be invited to present their innovative ideas at an Accelerator Day, which will be around mid-late July. Apart from monetary support, the successful applicants will also be provided access to unparalleled industry experience and advice, industry leading research centres and R&D programs, commercial expertise and significant back office and group functional capability.

Registered start-ups with commercially scalable decarbonisation steelmaking technologies will need to submit their applications before 20^th June.