Global shift in green steel projects as major investments move...

Global shift in green steel projects as major investments move beyond Europe into Asia - Stockholm Environment Institute (cision.com)


Key insights:

• The latest data includes nine new projects with only two in Europe, suggesting a global shift in investment.
• After a surge in project announcements from 2020 to 2021, the pace has slowed. For comparison, there were 36 new investments in 2021 alone.
• For the first time, a Chinese steelmaker has announced the technology used and detailed its investment in a full-scale green hydrogen direct reduction facility.
• Hydrogen direct reduction (H-DRI) remains the dominant technology in the Green Steel Tracker.
• While the tracker features 99 projects globally, not all align strongly with a company strategy to achieve net-zero emission by 2050.

In a significant development, China, the world’s largest steel producer, has disclosed for the first time detailed information about a major green steel project. This is an investment of USD 683 million by HBIS Group in a green hydrogen direct reduction (H-DRI) project in Naiman Banner, Inner Mongolia. H-DRI using renewably sourced hydrogen remains the dominant technology in new green steel projects. This trend is evident in the latest project announcements beyond Europe, including a major initiative from Oman aimed at utilizing H-DRI in a location with potential renewable energy sources. "

We are in discussions with Saudis.. Oman using DRI... Oman is where Jindal steel is... Hmmm.