Thyssenkrupp CEO Miguel Lopez has warned that the company’s €3bn ($3.3bn) hydrogen-based steel plant in Germany risks becoming a stranded asset unless the country can secure adequate supplies of green hydrogen.
Currently under construction in Duisburg, the plant has already secured €2bn ($2.2bn) in government funding, with Thyssenkrupp committing a further €1bn ($1.1bn) – its largest single investment to date.
Using direct-reduced iron (DRI) technology, it’s set to produce 2.5 million tonnes of green iron annually, later converted into steel. From 2028, it’ll demand at least 104,000 tonnes of clean hydrogen annually- rising to 143,000 tonnes by 2029 and peaking at 151,000 by 2036. Thyssenkrupp put out a supply call last year.
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