Overview

• The company formally rejected the German government’s €1.3 billion funding pledge after concluding that hydrogen shortages and high energy prices undercut project viability.
• Bremen’s mayor Andreas Bovenschulte and Brandenburg’s premier Dietmar Woidke have pledged to work with unions and the firm to protect jobs at the two plants.
• Eisenhüttenstadt’s works council has now voiced understanding for the decision, acknowledging that investment risks could threaten the steelworks’ future.
• ArcelorMittal will instead focus on planning electric arc furnace installations for both sites when power costs and hydrogen supply improve.
• Meanwhile Salzgitter Flachstahl, Thyssenkrupp Steel Europe and SHS are advancing their own decarbonization projects backed by roughly €5.6 billion in government support.