MT - ArcelorMittal successfully tests use of green hydrogen at Canadian plant

ArcelorMittal (NYSE:MT) said Monday it successfully tested the use of green hydrogen in the production of direct reduced iron at its facility in Contrecoeur, Quebec. During the first 24-hour test, the company said it used power produced by a third-party-owned electrolyzer to replace 6.8% of natural gas in the iron ore reduction process. ArcelorMittal (MT) said it may carry out further tests in the coming months, relying on larger green hydrogen volumes. Overall, the company has said it aims to lower its carbon dioxide emissions intensity by 25% by 2030 on a global scale and to become carbon neutral by 2050. ArcelorMittal (MT) recently agreed to buy an 80% stake in Voestalpine's hot briquetted iron plant in Corpus Christi, Texas, for ~$1B.

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ArcelorMittal successfully tests use of green hydrogen at Canadian plant