Energy giant bp has signed an agreement with thyssenkrupp Steel (thyssenkrupp) to accelerate the steel industry’s transition to low emission energy by focusing on the development long-term supply of low carbon hydrogen and renewable power.
Announced today (11th July), the deal will contribute to the decarbonisation of an industry responsible for 8-11% of global carbon dioxide (CO2) emissions and 2.5% of Germany’s CO2 emissions.
By using direct reduction plants instead of coal-fired blast furnaces to reduce iron ore with low-carbon blue and green hydrogen, thyssenkrupp aims to make steel production climate-neutral by 2045.
The project is part of bp’s plan to invest in and work to develop a portfolio of industrial-scale hydrogen projects in Germany, the Netherlands, Spain, the UK, and Australia.
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