Understanding the demand for Green Steel, page-104

New Climate Law Is a Game-Changer for U.S. Heavy Industry | NRDC



"For the first time, and based on early estimates, it can be financially viable to replace highly emitting blast furnace steel mills that run on coal with clean, hydrogen-based steel plants. The latter would rely on a process known as thedirect reduction of iron (“DRI”) that runs on 100% hydrogen and to the extent that the hydrogen is green, the process would produce nearly emission-free steel.

All major European steel producers are currently testing and building hydrogen-based steel production processes using vital government support for the transition. The United States is poised to follow suit and now with IRA subsidies, can lead the global transition to green steel.

This could be a boon for the U.S. economy, with prospects of recreating a domestic steel manufacturing industry and creating sustainable jobs. Our colleagues at RMI estimated the near-term potential for hydrogen to decarbonize U.S. steel production, considering the current steel fleet, including blast furnace facilities that are of the age to have major financial investment decisions within the next five years and, given an appropriate incentive environment – such as the one provided by the IRA – could elect to transition to hydrogen-based production. This switch can shave off 43 million metric tons of CO2 by 2030 – roughly equivalent to the annual power sector emissions of the state of North Carolina. "

5 years....MGT will be in stage 2 then...you can have some of our 5mt/annum magnetite America.