Europe’s largest steelmaker, ArcelorMittal, has recently unveiled breakthrough technologies that will take the company to 30% lower CO2 emissions by 2030, and carbon neutrality by 2050.
This move came in recognition of the need to act now to reduce carbon emissions, in line with the EU’s Green Deal and the Paris Agreement.
ArcelorMittal Europe is investing in two carbon-neutral routes for steelmaking:
• Smart Carbon route
• DRI-based route
It may be mentioned here that the Smart Carbon route leverages all clean energies:
• Circular Carbon
• Clean Electricity
• Carbon Capture & Storage within the high temperature-controlled reduction environment of ironmaking. This route has the potential to provide carbon-neutral steel, carbon-neutral cement, and the building blocks to make recycled carbon materials in order to replace polyethylene-based plastics. Also, Smart Carbon can contribute to CO2 removal, through the increased use of circular carbon, coupled with scaling up Carbon Capture & Storage (CCS).
While DRI-based route involves moving from using natural gas to hydrogen as the key reductant in ironmaking. As this hydrogen becomes ‘green’, the production process comes close to carbon neutrality.
“ArcelorMittal Europe is doing a lot of work to develop a path to net-zero. The technologies we are working on have the potential to make a big impact. Indeed, steel should and can play a leading role in achieving the vision for Europe as outlined in the Green Deal. Our research and development team are one of the best in the industry and relish solving complex problems,” Aditya Mittal, President and CFO, ArcelorMittal, and CEO ArcelorMittal Europe, said.
In total, the investment required to fully implement Smart Carbon is estimated to be €15-25bn, while €30-40bn for the DRI-based route.