Germany’s Minister of Economy Peter Altmaier said that German steelmaker ThyssenKrupp promised to build a new plant to produce greensteel with hydrogen instead of coal by 2025. The plant is expected to have an annual production capacity of 400,000 mt of steel, increasing to three million mt by 2030.
ThyssenKrupp recently produced around annual 11 million mt of steel in Duisburg. According to ThyssenKrupp, the Duisburg site alone is responsible for two percent of Germany’s carbon emissions. The steelmaker wants to reduce its carbon emissions by 30 percent compared to 2018 by 2030. The company is hoping for public support for the required investments.
The government stated that the German steel industry has to invest €30 billion in order to convert production to climate-neutral. Last month the federal government adopted a “Steel Action Plan” to help the industry.