Spanish Government approves €450m for ArcelorMittal’s green steel hydrogen project

The Spanish Government has approved €450m for ArcelorMittal’s circular hydrogen project in Asturias.

The Council of Ministers today approved the Royal Decree regulating the direct concession as part of the Decarbonization PERTE, within the Recovery, Transformation and Resilience Plan.

This project will allow the company to produce ‘green steel’ by using hydrogen produced with renewable energies. ArcelorMittal will not only contribute to the decarbonisation of its business, but also accelerate the decarbonisation of ancillary industries and other sectors of activity.

“This subsidy is unique insofar as the adoption of the use of hydrogen from renewable sources on an industrial scale is non-existent, without precedents in Spain, and there is only one candidate company to do it on a large scale,” according to a government statement. “This makes it impossible to call through competitive competition.”

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