Catherine Clifford of CNBC reports on a green steel company.
- The steel industry contributes $1.6 trillion to the global GDP and is responsible for nearly 9% of annual CO2 emissions.
- Boston Metals is hoping to tap into the this market by using electricity, instead of coal, to make a zero-carbon steel.
- While the process emits zero emissions, a lot of clean power is needed to produce the steel.
- Boston Metals will soon start to license its process to steel companies that are pledging to be carbon-zero by 2050.
Read the full article here.