Thyssenkrupp Steel secures $2.2 billion to decarbonize steelmaking with hydrogen-based DRI plant in Duisburg, Germany. The German government funds Thyssenkrupp to tackle steel industry’s high emissions.
This investment is a significant step in the steel industry’s decarbonization journey. Thyssenkrupp aims to become a leading producer of low-carbon steel globally.
The DRI plant will begin operations by the end of 2026, producing 2.5 million tonnes annually. It will account for 10% of Thyssenkrupp’s current yearly production.
The project will help reduce carbon emissions, create jobs, and boost the economy. Germany’s climate goals require decarbonization of high-polluting industries like steel.
Hydrogen-powered DRI technology will revolutionize the steelmaking process. Thyssenkrupp’s initiative is the largest decarbonization investment in the steel industry.
The funding for Thyssenkrupp Steel is a major boost for the company’s decarbonisation efforts. It will help the company to reduce its carbon emissions and become a leader in the production of low-carbon steel. The project is also expected to create jobs and boost the German economy.
