Technological breakthroughs are imperative in society's decarbonisation journey. It is critically important that we continue to innovate, and the XCarb® innovation fund is an attempt to accelerate this process.
The XCarb® innovation fund is supplementary to the numerous technologies we are already developing and deploying across our operations. It serves as a point of access to the best and brightest ideas and companies developing solutions to decarbonise steelmaking.
ArcelorMittal's XCarb® innovation fund will invest in companies developing breakthrough technologies that will accelerate the steel industry’s transition to carbon neutral steelmaking.
Further information for interested companies can be found below.
The fund's investment committee will be chaired by Aditya Mittal, ArcelorMittal’s Chief Executive.
The committee will be comprised of senior executive management members from functions and segments across the Company’s global operations.
Interested companies must be developing a technology which is directly applicable, and holds strong potential to decarbonise, steelmaking. The technology must also be commercially scalable. There are no geographic restrictions – we are looking to invest in the best and brightest companies and ideas on the market.
There is no limit of the number of companies we can hold in the portfolio. This will depend on the quality of opportunities which come under consideration. Moreover, there is no set limit on the monetary figure of individual investments. Each potential investment opportunity will be assessed on its own merits. We are however looking to build a diversified portfolio of companies and technologies as we feel there is no one technology answer to decarbonising steelmaking.
Please contact [email protected] for inquiries.
“Having set a target of reaching net zero by 2050, progressing our efforts to reduce the carbon intensity of the steel we produce is central to our long-term strategy. The heart of these efforts lie in the work we are undertaking to develop and deploy several breakthrough steelmaking technologies which sit across two low-emissions pathways - Smart Carbon and Innovative DRI. We believe these can make carbon-neutral steelmaking a reality. Deployment of the technologies is progressing well, with industrial scale pilot plants scheduled to commence production next year.
“The fund adds an exciting new element to our CO2 technology strategy. It is a further sign of our commitment to aiding the development of technologies which can help to support the decarbonisation of our company and our industry.”