ArcelorMittal is today providing an update on its decarbonization plans in Europe.
The Company has previously announced the intention to invest in lower carbon emissions "hydrogen ready" DRI-EAF facilities to replace several blast furnaces across our European business, as a key strategic first step towards reducing emissions. In all cases, the host countries offered funding support for these projects, with the approval of the European Commission.
These projects were premised on a favourable combination of policy, technology and market developments that would facilitate decarbonization investment by helping offset the significantly higher capital and operating costs that this transition strategy would involve. This included being able to use natural gas until green hydrogen became competitive.
