ArcelorMittal said it would turn down €1.3bn in public subsidies aimed at supporting it in adapting facilities in Bremen and Eisenhüttenstadt to use hydrogen rather than coal in its steel furnaces.
It has also warned that it could shut its flagship green ethanol plant in Belgium because of restrictive EU regulation defining biofuels and emissions reductions that means that it would have to sell its output at a loss.
Green energy transition FUD #3248902349082380495423
In reality they are already operating green facilities but won’t convert more unless the required green hydrogen is actually available in reasonable amounts at reasonable prices…
Prediction: Next week we will get the next story of how the energy transition is failing because no one wants to build up hydrogen production as industry is already cancelling the projects requiring green hydrogen. 🥱
