News

14 December 2022: Vertex Hydrogen is delighted to announce the signing of a ‘Heads of Terms’ offtake agreement for 300+ megawatts of low carbon hydrogen with Encirc.

The agreement makes Ford the first customer committed to offtake the green steel that Tata Steel plans to produce via the hydrogen route, which is more sustainable and cleaner than the current steel-making method.

Steel major JSW Steel will set up a steel factory in YSR Kadapa district in Andhra Prdesh with an investment of ₹8,800 crore. Adani Green Energy Projects will set up a unit in Vizianagaram and Alluri Sitarama Raju district with an investment of ₹6,330 crore.

Tata Steel has announced a programme of improvements to its blast furnaces that will reduce the site’s carbon footprint by about 160kt of CO2 per year. That’s equivalent, says the company, to the annual emissions from nearly 100,000 cars* or those from the energy used by around 50,000 households.

The United States and the European Union are considering new tariffs on Chinese steel and aluminium as part of a bid to fight carbon emissions, according to a report by Bloomberg News.

South Korean steelmaker POSCO Group is planning to invest a total of $40 billion in Australia, with $28 billion being used for hydrogen manufacturing, and $12 billion going toward green steel production- in order to manufacture 1Mt of hydrogen by 2040.

Easing covid-19 restrictions in China may lead to an increase in demand and prices of metals, but the uptick maybe limited, said industry experts.

Finished steel production dropped by 5 per cent November to 9.5 mt versus October where it was 9.9 mt. Variation in stock went up month-on-month to 1,49,000 tonnes, up 40 per cent, a report by the Steel Ministry