ArcelorMittal-John Cockerill Plan To Build Low-Temperature Iron Electrolysis Plant, Targets Production In 2027
Portfolio Pulse from Lekha Gupta
ArcelorMittal (MT) and John Cockerill announced plans to build the world's first industrial-scale low-temperature iron electrolysis facility, the Volteron plant, targeting production in 2027. The plant will produce between 40,000 and 80,000 tonnes of iron plates per year in the first phase, with potential to increase capacity to 1 million tonnes. Last week, ArcelorMittal's North America Division signed a deal to supply General Motors (GM) with sustainable XCarb steel.
June 14, 2023 | 1:20 pm
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General Motors signed a deal with ArcelorMittal's North America Division to be supplied with North American-sourced sustainable XCarb steel.
The deal with ArcelorMittal to supply sustainable XCarb steel will help General Motors in its efforts to produce more environmentally friendly vehicles and meet sustainability goals, potentially attracting more customers and investors.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
ArcelorMittal plans to build the world's first low-temperature iron electrolysis plant with John Cockerill, targeting production in 2027. The company also signed a deal to supply GM with sustainable XCarb steel.
The construction of the world's first low-temperature iron electrolysis plant will position ArcelorMittal as a leader in sustainable steel production. The deal with GM to supply sustainable XCarb steel will also boost the company's revenue and reputation in the industry.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100