The CEO of Cleveland-Cliffs has acknowledged that the company may shift away from hydrogen and back toward more fossil fuels at its steel decarbonisation projects, in response to changing policies under the Trump Administration.
Speaking on Cleveland-Cliffs’ Q1 2025 earnings call, CEO Lourenco Goncalves signalled a strategic shift for the North American steelmaker, specifically at its Middletown Works site, which successfully trialled hydrogen injection in its blast furnace in 2023.
The Middletown Works initiative is part of a broader Department of Energy (DOE) supported programme to decarbonise the US steel sector. The previous Biden Administration viewed hydrogen as a key enabler.
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