Jordan McDonald of Emerging Tech Brew reports on ArcelorMittal and its efforts to decarbonize steel making.
- ArcelorMittal, the world’s second largest steel producer, plans to reach net-zero emissions by 2050.
- The company has launched the XCarb Innovation Fund to invest in climate tech startups.
- Since its inception in 2021, XCarb has committed over $158 million to six different startups that are looking to decarbonize the steel industry.
- Free markets are creating cleaner products and more sustainable industries.
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The steelmaker has also invested in other companies adjacent to or crucial to the steelmaking industry, including LanzaTech, which makes carbon-capture tech, and Form Energy, which specializes in long-duration energy storage.”
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