The European Commission announced the approval of more than EUR520mn (USD557mn) in state aid for projects aimed at advancing efforts to decarbonize steelmaking by steel and mining company ArcelorMittal in Germany and Spain. The aid measures both target the use of hydrogen to replace fossil fuels in the production of steel and include EUR460mn for decarbonization projects at ArcelorMittal's facilities in Gijon, Spain, and EUR55mn for a new demonstration plant in Hamburg, Germany.

Source: ESGToday