Construction of the plant will be financed through more than5bn indebt and equity.
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The burning coke produces carbon monoxide, which converts the iron ore into pig iron the basis of steel.
The only problem is, when the coke burns it produces a lot ofCO2.
In fact, the steel industry as a whole is responsible for anestimated8% of globalCO2emissions.
Hydrogen reacts with the iron ore to create pig iron but without the emissions.
The only by-product, the startup says, would be water vapour.
The hydrogen itself would be made in an electrolyser at the Boden site.
However, global annual steel production is currently around 2,000 million tonnes,according tofiguresfrom the World Steel Association.
Story bySion Geschwindt
Sion is a freelance science and technology reporter, specialising in climate and energy.
