After the European Commission authorized the money, the German government set aside EUR 55 million so that Arcelor Mittal could switch its steel manufacturing to green hydrogen produced from renewable sources.
The initiative enables Hamburg to take an even more innovative lead in establishing a hydrogen industry and decarbonizing industry. By 2030, Arcelor Mittal wants to reduce annual CO2 emissions by around 700,000 tonnes.
Arcelor Mittal intends to construct its first hydrogen-based steelmaking facility in Hamburg rather than using natural gas. Hydrogen must be accessible in sufficient quantities and at competitive rates to support environmentally responsible manufacturing. Water will be electrolyzed using renewable energy sources to create the necessary hydrogen. By 2030, Arcelor Mittal hopes to have Hamburg producing more than 1 million tonnes of carbon-neutral steel annually.