ArcelorMittal, the world’s largest steel producer, has received a €75 million loan for the development of low-carbon steel

ArcelorMittal, the world’s largest steel producer, has received a €75 million loan from the European Investment Bank.

The loan, backed by the European Commission, will be used for the construction of two state-of-the-art projects at ArcelorMittal Ghent, Belgium. These projects are developed to significantly reduce carbon emissions by transforming waste and by-products into valuable new products, contributing to the development of low-carbon steel production technologies in line with the EU’s climate targets.

The loan is intended for the development of Steelanol. An experimental industrial-scale facility that will capture waste gases from the blast furnace and convert them biologically into recycled carbon ethanol. This is the first commercial product in ArcelorMittal’s Carbalyst® family to be made from recycled carbon chemicals. The ethanol produced can be blended to be used as a liquid fuel, ArcelorMittal claims.

Once completed, the facility is expected to produce up to 80 million liters of recycled carbon ethanol annually.

The technology was developed by LanzaTech, with which ArcelorMittal has entered into a long-term partnership. Together with Primetals and E4tech.

The world’s largest steel producer, ArcelorMittal, creates new jobs

According to ArcelorMittal, the new facility will create up to 500 construction jobs over the next two years. And 20-30 new permanent direct jobs. The project is expected to be completed in 2022.

Another aspect of the project is Torero, an experimental installation that transforms used wood into biocarbons. It will partially replace the coal currently injected into the blast furnace.

In the early stages, the Torero plant will be able to convert up to 60kt of wood waste. In about 40kt of biocarbons each year. This volume will be doubled in a second stage of the project. The new facility will create about 70 external jobs. And another approximately 10 new permanent direct jobs for the operation of this facility.

Mariya Gabriel, European Commissioner for Innovation, Research, Culture, Education and Youth, said: „This EU-backed loan will allow us to demonstrate that European steelmaking facilities can be competitive while reducing carbon emissions and help us achieve our climate goals. Moreover, if we invest in research, education and innovation at European level, we can demonstrate the global leadership that can secure and strengthen these industries and the people and communities they support for future generations. ”

Article source : https://www.steeltimesint.com/news/view/arcelormittal-granted-eur75-million-loan-to-develop-low-carbon-steelmaking