Energy company Moeve and steel giant ArcelorMittal have announced the creation of a joint innovation platform on a 50/50 partnership basis. This was reported by Fuelcellsworks.
The project, carried out as part of the Green Molecules to Green Steel (G2G) alliance, aims to accelerate the decarbonisation of the European steel industry through the introduction of renewable energy sources and innovative technologies.
The main aim of the partnership is to develop, scale up and implement solutions based on ‘green molecules’ (biogas, biomethane, renewable hydrogen and second-generation biofuels). These environmentally friendly energy carriers are intended to replace traditional fuels and facilitate the transition to economically viable, low-carbon steel production.
The new platform will be funded from the companies’ own resources and will also draw on public funds. In particular, the regional agency Sekuens (Asturias, Spain) will join the project. The partners are also considering the possibility of attracting other public and private investors whose objectives align with the alliance’s mission.
A key element of the model will be an innovative hub, established on the basis of the Moeve and ArcelorMittal research centres. Within this hub, the following are planned to be developed:
- breakthrough technologies for carbon capture and utilisation (CCU);
- biotechnological solutions for optimising production processes;
- artificial intelligence systems for creating new materials with improved properties.
The project’s ecosystem will be open to collaboration with start-ups, universities and research centres.
The G2G alliance is in line with the long-term strategies of both companies. As part of its ‘Positive Motion’ roadmap, Moeve aims to lead the energy transition by building a second-generation biofuel plant and developing the ‘Andalusian Green Hydrogen Valley’ project.
For its part, ArcelorMittal is actively implementing two flagship European projects in Spain for the production of low-carbon steel (at its plants in Sestao and Gijón), backed by substantial investment and cutting-edge environmental standards.
As reported by GMK Center, the global steel industry is concerned about the slow progress being made in the field of ‘green’ steel. According to Worldsteel, around half of the world’s planned ‘green’ steel projects have already been postponed. At the same time, governments have allocated only $20 billion of the $1.5 trillion needed to decarbonise the sector. Progress in reducing emissions is likely to remain slow without a significant increase in public funding or customers willing to pay more for sustainable steel.
