SEATTLE (Scrap Monster): Steelmaker ArcelorMittal focused on the urgent need to boost support to the decarbonisation efforts by the European steel industry. Geert Van Poelvoorde, CEO, ArcelorMittal Europe also highlighted the numerous challenges faced by the steelmaking sector. He was speaking at the annual reception of the multisectoral business federation, FEDIL, held recently in Luxembourg.
Mr. Van Poelvoorde narrated the contributions made by ArcelorMittal Europe to the decarbonisation efforts till date. Furthermore, he outlined on the steps the company intends to take in future.
As part of its efforts to deliver zero-carbon emissions steel plants, blast furnaces will have to be replaced with DRI plants. The electric arc furnaces need to be powered by renewable energy. Moreover, replacing natural gas with green hydrogen will lead to approximately 90% reduction in carbon dioxide emissions by DRI plants. The plants must be capable of capturing the remaining 10% emissions.
The company has already rolled out a detailed decarbonisation plan, for which it has already received investment support from governments of various countries including Belgium, France, Germany and Spain. ArcelorMittal Europe is awaiting funding approval from the European Commission (EC) at the earliest, Poelvoorde noted.