steel
Steel manufacturing is a high carbon process and every tonne that is manufactured creates around 1.8 tonnes of carbon dioxide
The steelmaker says the pledge will help it contribute to the European Commission’s Green Deal
The news comes after the steel company, which directly employs around 5,000 people, collapsed into insolvency in May after months of financial pressure
A total of 32 winners will share the funding for projects including carbon capture, utilisation and storage and steam turbine efficiency
The full transfer is expected to take place before the end of the year
The steel industry accounts for around 7% of global emissions
It was a condition set by the Commission for its acquisition of Italian steelmaker Ilva
The company is launching a new project in Hamburg it expects to cost around €65 million
An industry partnership made up of LKAB, SSAB and Vattenfall is building a biofuel-fired iron ore pellet plant as part of the scheme
The technique reduces the amount of energy-intensive steps required in the manufacturng process
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