Luxembourg-based steelmaker ArcelorMittal has announced that it has selected Canada-based CHAR Technologies for its XCarb™ Accelerator Program, completing its search for the best company and breakthrough technologies that hold the potential to accelerate the decarbonization of the steel industry. CHAR Technologies will receive $5 million in investment through ArcelorMittal’s XCarb™ Innovation Fund.
Over 90 start-ups from five different continents have submitted applications to the program across seven distinct technology domains.
In addition, ArcelorMittal’s Canadian flat steel operation ArcelorMittal Dofasco, has been collaborating with CHAR to test the use of its biocarbon as a partial replacement for fossil coal in its steelmaking processes. CHAR’s biocarbon enables an approximate 91 percent reduction in greenhouse gas emissions compared to metallurgical coal. ArcelorMittal Dofasco has therefore signed a memorandum of understanding with CHAR for the purchase of biocarbon that will enable larger-scale trials in the coming years.