GravitHy
De Challenge
Steel is a strategic material in the transition to a low carbon economy, but the coal used for its production is responsible for 7 percent of global CO2 emissions. Decarbonising the steel value chain is essential to achieving a C-neutral society. It can only be done by rethinking iron production.
De Solution
GravitHy plans to create a low-CO2 iron plant and to replicate its model outside France. Using hydrogen to react with iron ore avoids the high CO2 emissions of traditional methods. The product is direct reduced iron (DRI), which can be used as feedstock for low-CO2 steel production or can be traded in the form of hot briquetted iron (HBI). By decarbonising steel production, GravitHy supports the EU’s pledge of carbon neutrality and responds to a growing demand for low-CO2 steel products.
De Businesscase
- Brings together the commitment and competencies of best-in-class, purpose-led stakeholders to redefine the way iron and steel are produced and sold worldwide.
- Unites experienced professionals while attracting and forging young talents.
- Plant designed with best available technologies.
- Profitable business model based on cost competitiveness.
- Excellence in a superior product line.
- Works in close collaboration with players representing the entire value chain.
About EIT InnoEnergy
EIT InnoEnergy operates at the centre of the energy transition and is the leading innovation engine in sustainable energy, bringing the technology and skills required to accelerate the green deal, progress towards Europe’s decarbonisation goal, and improve energy security. Ranked as Europe’s top impact investor in cleantech in 2022, named in 2023 as a top 10 active deeptech investor by Sifted, and recognised globally as the most active sustainable energy investor, EIT InnoEnergy backs innovations across a range of areas. These include energy storage, transport and mobility, renewables and sustainable buildings and cities – leveraging its trusted ecosystem of 1200+ partners and 29 shareholders.
EIT InnoEnergy is the driving force behind three strategic European initiatives which include the European Battery Alliance (EBA), the European Green Hydrogen Acceleration Center (EGHAC) and the European Solar Photovoltaic Industry Alliance. www.innoenergy.com
GravitHy
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