Industrial

No business case for hydrogen-based green steel, says ArcelorMittal, despite being granted billions in subsidies

The awards are not sufficient to ‘offset the significantly higher capital and operating costs involved’

Canadian Prime Minister Justin Trudeau (fourth from left) and ArcelorMittal executive chairman Lakshmi Mittal (fifth from left), and other dignatories at a 2022 groundbreaking ceremony for DRI facilities in Hamilton, Ontario, which have not yet been built.
Canadian Prime Minister Justin Trudeau (fourth from left) and ArcelorMittal executive chairman Lakshmi Mittal (fifth from left), and other dignatories at a 2022 groundbreaking ceremony for DRI facilities in Hamilton, Ontario, which have not yet been built.Photo: Global News/Twitter
Editor, Hydrogen Insight
Published 6 February 2025, 11:28Updated 6 February 2025, 13:05
SteelArcelorMittalSubsidiesEuropeCanada