EIB to provide €300 million loan to Europe’s third largest steelmaker to boost green steel production
Sustainability Economics
E2E AUTOMATION AND LIFECYCLE MANAGEMENT OF NET-ZERO TRANSITIONS
The European Investment Bank (EIB) announced that it is providing voestalpine AG, a steel and technology company, a loan of €300 million. voestalpine AG is the third-largest steelmaker in Europe.??
The primary intention of funding the steelmaker is to support the research and development (R&D) of green steel production.?
The funds endowed will be diverted to the company’s research and development (R&D) program over four years. The goal of investing in the R&D program is to “optimize the manufacturing processes, increase energy and raw material efficiency, and extend product life.”?
Thomas ?stros, EIB Vice-President in charge of activities in Austria said, “Steel manufacturing is responsible for a significant share of global CO2 emissions. At the same time, it is fundamental for the competitiveness and technological leadership of European industries and for millions of jobs across the continent.”?
Senior Technical Adviser for Coal & Gas Based Power Plants of EPC- O&M-EHS-CDM - BRSR-IREC-VERRA-VCS-LCA/GRI /ESG reporting - Solar& Hydel O&M auditing -R&M- CO2 quantifying & Asset Valuation of Power & Steel Industries
4 个月Hi all...Good Wishes Green steel Production - Good to hear - let us analyse how mych CO2 may be reduced per TOP of various type of steel and subsequent products since from the mining of raw materials say iron ore/ dolmite/ coking coal ( coal)/ Lime stone / Flux / Energy requirement for these process including fuel/ in addition to DC/AC Power for RE / transporation etc and fianlly disposal emission burden ...Sure we will take the advantages even if it is incremental contribution to allevaite GHG / GM impacts . Let us share the thoughts. Regards. Udhayakumar BV