Hyundai Steel launches low-carbon steel brand HyECOsteel

Steelmaker ArcelorMittal has announced the launch of its XCarb™ innovation fund to fund decarbonization projects in India. Canadian company CHAR Technologies will act as an accelerator program for its XCarb™ by investing US$5 million in the company through ArcelorMittal's XCarb™ Innovation Fund.

ArcelorMittal will work with the Indian Institute of Technology Madras to identify start-ups with the potential to implement decarburization technology and provide further support and guidance.

The ArcelorMittal AM/NS India joint venture is also supporting the plan and the company is also actively developing its own decarbonization strategy.