Salzgitter Orders 100MW Green-Hydrogen Plant From Andritz
By Pierre Bertrand
Salzgitter said Wednesday that it has ordered a green-hydrogen plant from Andritz Group as part of its decarbonization effort.
The German steel company said Andritz will supply the 100 megawatt electrolysis plant at its Salzgitter Flachstahl site.
Starting in 2026, the plant will produce around 9,000 metric tons of green hydrogen annually. The hydrogen will be used to supplant coal from the company's steelmaking processes, Salzgitter said.
It added that this order is the last for the plants and systems needed for the first stage of its decarbonization plan.
In April, the company said it had received almost 1 billion euros ($1.07 billion) in combined German and Lower Saxony government funding for its low-carbon steelmaking program, known as Salcos.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
September 20, 2023 06:18 ET (10:18 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
Small-Cap and Value Stocks Are Undervalued
-
Why We Expect the Job Market’s Slowdown to Renew in 2024
-
5 Undervalued Stocks to Buy to Play a Little Defense
-
Markets Brief: AI Leaders Excel In Earnings Season So Far
-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Amazon Earnings: AWS Growth Accelerates and Profit Margins Improve
-
SiriusXM Earnings: Decent Results With Plan for Technology and Content Investment to Drive Growth
-
Coca-Cola Earnings: Solid Volume On Innovation and Digital Engagement
-
Is Berkshire Hathaway a Buy Before the Annual Meeting?
-
Investment Opportunities in the Drug Distribution Industry
-
Why the End of Quantitative Tightening Matters
-
Eli Lilly Earnings: Strong Weight-Loss Drug Sales Expand Margins
-
After Earnings, Is Meta Stock a Buy, a Sell, or Fairly Valued?