A revision notice on funding for thyssenkrupp Steel's tkH2Steel decarbonisation project, consistent with EU state aid law, has been issued and thyssenkruppSteel is now preparing a new hydrogen tender, signalling its support for the decarbonisation of the steel industry and the use of hydrogen going forward.
The reason for the funding revision, claims thyssenkrupp Steel, is because of significant changes to economic conditions since the original funding decision was made. Furthermore, the development of the hydrogen market, says the company, has fallen short of the expectations that prevailed at the time of the original funding. In this respect, generation capacity, transmission lines and import pathways are not yet available to the extent required.
According to thyssenkrupp Steel, the revised funding allows for a gradual and more flexible increase in the share of hydrogen.
Philipp Conze, chief financial officer of thyssenkrupp Steel, commented: "With tkH2 Steel, we are implementing one of the biggest industrial decarbonisation projects worldwide. The revised funding decision gives us the planning certainty we need to continue with the build. At the same time, we are aligning the ramp-up with actual market conditions. For us, one thing is certain: we will produce CO2-reduced premium steel in Duisburg. With the revisions to the funding requirements, we have reached another important milestone for the future of thyssenkrupp Steel."
The funding requirement revision, says thyssenkrupp Steel, means that the groundwork has been laid for the next hydrogen tender. The company is preparing the new process for the long-term supply of the direct reduction plant and is schedule to begin shortly.
Insight into prices, available quantities and supply chains were provided by the first process and these are being incorporated into the new call for proposals.
It is believed that the new call for tenders will establish a solid foundation for the subsequent operational phase and, simultaneously, send a clear signal to the market, the message being that with the direct reduction plant, thyssenkrupp Steel will become ''one of Europe''s largest industrial hydrogen consumers, thereby creating reliable long-term demand''.
Work is continuing on the construction site for the DRI plant; among other things, formwork and reinforcement work, as well as large-scale concrete pours, have been completed for the tower of the plant and the two melters. Thyssenkrupp Steel says that the tkH2Steel project will integrate a technologically innovative plant combination into Europe''s largest iron and steel plant, enabling all subsequent process steps to be maintained and, consequently, all high-quality steel grades to be produced. The 100% hydrogen-capable direct reduction plant with two melters will have an annual production capacity of 2.5Mt (metric tons) of directly reduced iron. The plant will be able to reduce CO2 emissions by up to 3.5Mt (metric tons) per year, thereby making an indispensable contribution to achieving national and European climate goals. The green transition will secure many skilled jobs in Duisburg, says thyssenkrupp Steel.
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