In a bid to revolutionize the steel industry, the Biden administration has announced a new initiative that focuses on funding emerging processing pathways with novel themes, including electrochemistry, hydrogen plasma, and advanced thermal approaches. This effort complements other actions taken to decarbonize steelmaking, but unlike many green steel initiatives, it does not involve copious amounts of hydrogen.
The program, known as Revolutionizing Ore to Steel to Impact Emissions (ROSIE), aims to develop cutting-edge technologies that could potentially transform how the world makes iron and steel. However, experts caution that these technologies are still in the early phases of development and may take decades to reach industrial scale.
One such innovative company, Element Zero, has been recognized as a 2024 Pioneer by BloombergNEF for its electrolysis process that can convert low-quality iron ore into high-quality iron using renewable power sources like wind and solar. Similarly, Boston Metal, a US company, has raised significant funding to develop its molten oxide electrolysis process for making iron.
While these technologies show promise, challenges remain. Carbon capture systems don’t eliminate other harmful pollutants emitted from blast furnaces, and there are limitations on the amount of scrap metal available for recycling. Additionally, the steel industry faces hurdles in sourcing low-carbon hydrogen, as most hydrogen today is produced using fossil fuels.
Despite these challenges, experts believe that a combination of hydrogen-based steel production, carbon capture and storage, and increased use of recycled scrap metal could pave the way towards a greener steel industry. It will require significant investments in renewable energy sources and innovative technologies, but the goal is to ultimately scale up electrolysis for steel and iron production in the future.
