Press release
bp and thyssenkrupp Steel work together to advance the decarbonisation of steel production
bp and thyssenkrupp Steel form strategic collaboration to support decarbonisation of steel, including the supply of low carbon hydrogen and renewable power
The pair intend to jointly promote policies to support the development of low carbon hydrogen and green steel in Europe
bp and thyssenkrupp Steel today announced they have signed a memorandum of understanding (MoU) focused on the development of long-term supply of low carbon hydrogen and renewable power in steel production, helping accelerate the steel industry’s wider energy transition.
thyssenkrupp Steel accounts for 2.5 percent of CO2 emissions in Germany, mainly at the Duisburg site where the main emitters, the blast furnaces, are operated. By replacing the coal-fired blast furnaces with direct reduction plants where iron ore is reduced with low-carbon hydrogen, thyssenkrupp Steel intends to make steel production climate-neutral in the long term.
The companies will explore supply options for both blue and green hydrogen, as well as power from wind and solar generation through the use of power purchase agreements.
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