Luxembourg-based steelmaker ArcelorMittal has announced that its XCarb™ Innovation Fund is launching an accelerator program to fund and support the projects on decarbonization emerging from India.
Together with the Indian Institute of Technology Madras, ArcelorMittal will identify, support and mentor start-ups focused on the most promising decarbonization technologies in India.
The program will also be supported by ArcelorMittal’s joint venture, AM/NS India, which is actively developing its own decarbonization strategy.
Meanwhile, the company has recently selected Canada-based CHAR Technologies for its XCarb™ Accelerator Program and invest $5 million in the company through ArcelorMittal’s XCarb™ Innovation Fund, as SteelOrbis previously reported.