07/20/2025
The pullout of ArcelorMittal from the German green steel plan highlights the risk for companies to fully embark on a green transition course.
The €1.3 billion in German state money were primarily intended to cover the massive upfront costs of building new production facilities. But that's only part of the problem.
Using green hydrogen in steel production — produced by the electrolysis of water, using renewable electricity mainly from wind and sun — is still more expensive than grey hydrogen based on natural gas or coking coal.
