The EU Commission has approved financial support for an ArcelorMittal decarbonization project earmarked for the steelmaker's sites in Bremen and Eisenhüttenstadt.
A total of 1.3 billion euros in funding is being provided for a decarbonisation project worth a total of 2.5 billion euros.
Dr. Thomas Bünger, CEO of ArcelorMittal Bremen and Eisenhüttenstadt, commented: "The EU commitment is a significant milestone on our way to climate-neutral production – we are very pleased about it. Now we are moving forward to plan the technology change in production."
The technical planning for the use of new production technology – which will involve a hydrogen-powered direct reduction plant and three electric arc furnaces powered by green electricity – will now proceed enabling the global ArcelorMittal Group to push ahead with an investment decision on the project.
Assessing whether sufficient quantities of green electricity and hydrogen will be available at internationally competitive prices will be another important factor in the investment decision.