thyssenkrupp Steel Europe is set to receive €2bn ($2.2bn) of support for the decarbonisation of its steel production with renewable hydrogen from the German Government, following approval from the European Commission.
The European Commission approved two streams of support – a €550m ($616m) direct grant and a €1.45bn ($1.6bn conditional payment mechanism – aimed at assisting the steel giant in decarbonising its steel production and accelerating its uptake of renewable hydrogen.
Set to support the construction and installation of a direct reduction plant and two melting units at thyssekrupp’s Duisburg plant to replace an existing blast furnace, the €550m grant will be used to see natural gas initially used and gradually phased out, with only renewable hydrogen planned to be used from 2037.
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