ArcelorMittal invests $5 million in H2Pro for new technology development
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Update time : 2022-01-28 21:42:29
ArcelorMittal announced on January 25 that it has invested US$5 million in H2Pro through its XCarb™ innovation fund.
H2Pro is developing an E-TAC (Electrochemical – Thermally Activated Chemical) technology, similar to electrolysis. The energy efficiency of E-TAC water splitting exceeds 95%, significantly higher than traditional water electrolysis technologies’ 70%. Besides, the cost of E-TAC was expected to be halved compared to traditional electrolysis, thereby lowering operational costs.
H2Pro aims to produce hydrogen at a cost of less than US$2/kg by 2023 and less than US$1/kg by 2030.
Green hydrogen produced by water electrolysis is important for achieving deep decarbonization in the steelmaking process. The technology used to directly reduce iron ore using hydrogen still needs to mature, and the greater challenge faced by this new steelmaking method is the cost and availability of the green hydrogen.
