The world’s leading steel makers have announced pledges to reduce emissions, aiming for net-zero by 2050 or sooner. They are committing to various new technologies still not proven at scale: making steel with hydrogen, and some with strategies that include carbon capture. They are putting their money where their mouth is. The list is impressive and includes ArcelorMittal (the world #1), ThyssenKrupp, Voestalpine, SSAB/LKAB/Vattenfall, Nippon … [Read more...]
HYBRIT project: Sweden goes for zero-carbon steel
Europe’s largest iron ore producer, LKAB of Sweden, plans to invest almost €40bn over the next two decades in emissions-free steel production. LKAB, along with Vattenfall and SSAB, are behind the HYBRIT project which intends to grow, fossil-free, Sweden’s steel industry. They will use hydrogen instead of coal as the “reducing agent” to remove the oxygen from the iron ore. Thomas Koch Blank at RMI runs through their strategy and the implications … [Read more...]
The Clean Hydrogen revolution: how, by whom, when?
Hydrogen rivals oil and gas for storage and hard-to-decarbonise sectors (industry, heavy and long distance transport). But it isn’t all carbon free. “Grey” hydrogen – the cheapest at €1.50/kilo - is made from gas. “Blue” hydrogen depends on the fortunes of carbon capture technology. “Green” hydrogen is CO2 free, but needs further cost reductions in the green electricity used in the electrolysis process. Noé van Hulst, at the Netherland’s Ministry … [Read more...]
IEEFA Germany: RWE’s coal phaseout compensation demands defy market prices
How much should the coal producers be compensated for Germany’s phaseout? RWE wants €1.2bn per GW at least, basing its maths on an EU-approved scheme from 2015. But Gerard Wynn, writing for IEEFA, says too much has changed since then, not least the Paris Agreement and the actual market price for coal assets. By his calculations, the true price should be under €100m per GW down to near zero. Vattenfall and Engie have already taken such a hit. … [Read more...]