steel

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

The billionaire’s programme aims to add 1GW of green energy capacity down under