Cleveland-Cliffs drops $500m hydrogen steel plans in Ohio, refocuses on fossil fuels
Cleveland-Cliffs has officially abandoned its $500m hydrogen-based steel project in Middletown, Ohio, and shifted focus to extend the life of its coal-fired blast furnace.
CEO Lourenco Goncalves told investors last month that the company could shift away from hydrogen and revert to greater reliance on fossil fuels at its steel decarbonisation project, citing a lack of support from the Trump Administration.
The Middletown facility had been backed by a $500m US Department of Energy (DOE) grant under former President Joe Biden. But Goncalves admitted that even with the grant, Cleveland-Cliffs would need to spend an additional $1.1bn to replace the coal-based blast furnace with a hydrogen-fuelled plant.
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