ArcelorMittal, EU complete financing of Steelanol project
In Brussels, the European Investment Bank, with the support of the European Commission, has granted a EUR 75 million loan to ArcelorMittal for Steelanol, the EUR 165 million industrial-scale demonstration plant based on LanzaTech's process, capturing waste gases from the blast furnace and biologically convert them into recycled-carbon ethanol.
LanzaTech, ArcelorMittal, Primetals and E4tech are project partners of long-standing. Ultimately, the project will create more products in ArcelorMittal's Carbalyst family of recycled carbon chemicals, and could include jet fuel. Once complete, the plant is expected to produce up to 80 million liters of recycled-carbon ethanol a year. The project is expected to be completed in 18 months.