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The US has named seven hydrogen hubs that will each be awarded a portion of $7bn to jump-start the country's hydrogen economy.
The hubs will produce over 3mn t/yr of clean hydrogen combined, equivalent to 30pc of the US' 10mn t/yr target for 2030, the White House said. They are expected to trigger an estimated $43bn in private investment.
The government is separately planning a $1bn incentive package to stimulate demand from offtakers for output from the hubs, although the exact shape of this has yet to be decided.
This marks "the beginning of a new era in steel producing," Cleveland-Cliffs CEO Lourenco Goncalves said.
"With clean hydrogen in our backyard, Cliffs' hydrogen-ready blast furnaces and direct reduction plant will be first in the world to replace CO2 with a new byproduct that does not contribute to global warming: this new byproduct will be H20," Goncalves said in a statement.
Cliffs is currently constructing a pipeline to bring hydrogen to Indiana Harbor's No. 7 blast furnace, according to the statement.
The Midwest hydrogen hub plans to draw on renewables, natural gas and nuclear energy to supply hydrogen for steel and glass production, power generation, refining, heavy-duty transportation and sustainable aviation fuel.
Cliffs has publicly pledged its willingness to procure clean hydrogen from production members of this hub, the company said, adding its offtake ensures the hub's viability and "will mark a major step forward for the continuation of aggressive CO2 emissions reductions by [its] integrated steel mills." spglobal.com
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