Salzgitter secures €1bn in government finance for green steel
The first stage of its Salcos decarbonisation programme is due to start operations by end-2025
German steelmaker Salzgitter has secured €1bn ($1.09bn) in federal and state government subsidies for its ‘Salcos’ decarbonisation programme, which aims to switch its site in Lower Saxony entirely to low-carbon processes by 2033 over three stages. The first stage, capable of producing 1.9mn t/yr of crude steel, will involve the installation of two direct reduction plants using green hydrogen and three electric arc furnaces to replace blast furnaces and converters. The first stage is expected to begin operations by the end of 2025. Salzgitter aims to reduce its scope one and two emissions from 2018 levels by more than 30pc by 2025 and 50pc by 2030, as well as reaching net zero by 2050. The st
Also in this section
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
Recent project approvals have yielded millions of carbon credits linked to the plugging of the US' abandoned wells
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks