Japan’s Mitsubishi Heavy Industries will soon complete in Austria the world’s largest steel plant capable of attaining net-zero carbon dioxide emissions. Mitsubishi Heavy, through a British unit, is constructing the pilot plant at a complex of Austrian steelmaker Voestalpine. Trial operation is slated to begin in 2021. From a report: The plant will use hydrogen instead of coal in the reduction process for iron ore. The next-generation equipment will produce 250,000 tons of steel product a year. The global steel industry generated about 2 billion tons of CO2 in 2018, according to the International Energy Agency — double the volume in 2000. The steel sector’s share among all industries grew 5 percentage points to 25%. Iron ore reduction accounts for much of the CO2 emissions in steelmaking. Japanese steelmakers including Nippon Steel are developing hydrogen-consuming reduction processes based on the conventional blast furnace design. Mitsubishi Heavy’s plant adopts a process called direct reduced iron, or DRI. New blast furnaces require trillions of yen (1 trillion yen equals $9.6 billion) in investment. Although DRI equipment produces less steel, the investment is estimated at less than half of blast furnaces. For DRI to attain the same level of cost-competitiveness as blast furnaces, low-cost hydrogen will be key. Market costs for hydrogen now stand at around 100 yen per normal cu. meter, estimates the Ministry of Economy, Trade and Industry.
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