Nippon Steel Corporation (“NSC”) and Nippon Steel Stainless Steel Corporation (“NSSC”) have decided to apply for the “Energy and Manufacturing Process Transformation Support Business (Business I (Steel))” based on the Green Transformation (GX) Promotion Act.
In its “Nippon Steel Carbon Neutral Vision 2050”, NSC aims to achieve carbon neutrality by using three breakthrough technologies: hydrogen injection into BFs; hydrogen direct reduction of iron; and high-grade steel production in large-sized EAF.
While the conversion from the BF process to the EAF process would have a significant effect on CO2 reduction, huge capital expenditures and considerable increases in production costs, including costs of raw materials and electricity, are expected. In order to create and expand the market for green steel, where the effects of CO2 reduction are appropriately evaluated, regulatory and institutional measures need to be embodied as soon as possible.
Courtesy of Nippon Steel.