European consortium bets big on hydrogen produced green steel

On Thursday (June 30), a consortium with its sights set on leading the market for green iron and steel from hydrogen was announced, with plans to mobilise €2.2bn ($2.3bn) of investment.

GravitHy, composed of EIT InnoEnergy, Engie New Ventures, Plug, FORVIA, GROUPE IDEC, plans to support the demand for zero-carbon steel, by using green hydrogen to produce two million tonnes of direct reduced iron (DRI) annually from 2027.

The company has said it is looking to build its first plant in Fos sur Mer, France, from 2024, with €2.2bn ($2.3bn) of investment, where the produced DRI is anticipated to be used either on-site as feedstock for green steel or traded globally as hot-briquetted iron (HBI).

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