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Exclusive: ArcelorMittal, Vattenfall form hydrogen consortium with Shell, Airbus

Exclusive: ArcelorMittal, Vattenfall form hydrogen consortium with Shell, Airbus
Exclusive: ArcelorMittal, Vattenfall form hydrogen consortium with Shell, Airbus   -   Copyright  (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html
By Reuters

By Vera Eckert and Tom Käckenhoff

FRANKFURT (Reuters) – ArcelorMittal, the world’s top steelmaker, and Swedish utility Vattenfall have teamed up with Shell, Airbus and other heavyweights to cut emissions in industrial processes by using hydrogen, two executives said.

One focus of the 12-member consortium, which also includes Japan’s Mitsubishi Heavy Industries, will be the production of carbon-neutral steel in the port city of Hamburg, the executives said.

“Within the Hamburg hydrogen co-operation, we will be able to save one million tonnes of carbon dioxide (CO2) annually (up to 2030),” ArcelorMittal executive Uwe Braun said.

As part of the plan, Vattenfall will idle its Moorburg coal-to-power plant and convert the site to green hydrogen made from renewables while steelmaker ArcelorMittal will be one of its anchor consumers.

(Reporting by Vera Eckert and Tom Käckenhoff; Editing by Christoph Steitz)