XCarb™ is designed to bring together all of ArcelorMittal’s reduced, low and zero-carbon products and steelmaking activities, as well as wider initiatives and green innovation projects, into a single effort focused on achieving demonstrable progress towards carbon neutral steel.
In North America, we have pledged to reduce our CO2 emissions by 25% by 2030, in line with our larger company's ambitious goal of carbon neutrality by 2050.
We are aligned with the Paris climate goals and our European operations have committed to reducing CO2 emissions by 30% by 2030, in line with the European Green Deal.
As the world’s leading steel company, we aim to be part of the solution and our journey is well underway.
“We have an important role to play in helping society deliver the objectives of the Paris agreement and are determined to lead our industry’s transition to carbon neutral steel.” - Aditya Mittal, CEO ArcelorMittal
We have a significant and broad range of decarbonization initiatives underway globally ,and in order to help our stakeholders understand the breadth of work we are undertaking in this area, we have launched XCarb™. It's an umbrella brand that groups together all of the reduced, low and zero carbon steel making activity of ArcelorMittal, as well as wider initiatives and green innovation projects.
XCarb™ serves as demonstrable evidence of our determination and accelerating commitment to achieve carbon neutrality by 2050. We are committed to leading the industry transition towards carbon neutral steel. We have the scale, resources, technology prowess and ambition required to make a significant impact.
Alongside the new XCarb™ brand, we have launched three XCarb™ initiatives: the XCarb™ innovation fund, XCarb™ green steel certificates and XCarb™ recycled and renewably produced for products made via the Electric Arc Furnace route using scrap.
ArcelorMittal's XCarb™ innovation fund will invest in companies developing breakthrough technologies that will accelerate the steel industry’s transition to carbon neutral steelmaking.
ArcelorMittal made an XCarb™ investment into Boston-based Form Energy which was founded in 2017 and is working to accelerate the development of its breakthrough low-cost energy storage technology to enable a reliable, secure, and fully-renewable electric grid year-round. It has recently unveiled a new iron-air battery which is: low-cost (approximately one-tenth the cost of lithium-ion battery technology); has multi-day reliability (100-hour duration hence overcomes the intermittent nature of renewable energy generation); scalable; and can be sited anywhere.
The first XCarb™ investment was $10 million as part of broader partnership established with Heliogen, a California-based renewable energy technology company which focuses on ‘unlocking the power of sunlight to replace fossil fuels’.
Heliogen’s technology will harness solar energy by using a field of mirrors which will act as a multi-acre magnifying glass to concentrate and capture sunlight. The sunlight will then be subsequently converted into heat (HelioHeat™), electricity (HelioPower™) or clean fuels (HelioFuel™). See how it'll work by watching the video below.
XCarb™ recycled and renewably produced steel is made from recycled steel using 100% renewable electricity in an Electric Arc Furnace.