Skip to content
Search

Latest Stories

ArcelorMittal invests £22m in LanzaTech to reduce emissions

ArcelorMittal invests £22m in LanzaTech to reduce emissions

MULTINATIONAL steelmaker ArcelorMittal has announced an investment of $30 million (£22.6m) in carbon recycling company LanzaTech.

With the investment made through the XCarb innovation fund, ArcelorMittal aims to reduce the emissions of CO2 equivalent at its Ghent plant in Belgium, using LanzaTech’s gas fermentation technology.


The Luxembourg-based company, which has a presence in 60 countries with primary steelmaking facilities in 17 nations, had first announced its plans to utilise LanzaTech’s carbon capture and reuse technology in 2015.

The Carbalyst plant - ArcelorMittal’s flagship carbon capture and re-use technology project - is currently under construction, with commissioning expected by the end of 2022, the company said in a statement.

Also known as the Steelanol project, its funding has been secured from various sources, including the European Union's Horizon 2020 programme, the European Investment Bank and the Belgian and Flemish governments.

With LanzaTech’s technology, which captures carbon-rich waste gases from the steelmaking process and converts them into sustainable fuels and chemicals, the plant is expected to reduce CO2e emissions at the Ghent facility by 125,000 tons a year.

It will also produce 80 million litres of bio-ethanol annually, which can be blended with traditional gasoline and used as a low-carbon alternative fuel for the transport sector, the statement said.

LanzaTech is also developing technology to convert captured emissions into other chemical building blocks to make materials, such as textiles and rubber.

ArcelorMittal’s chief technology officer Pinakin Chaubal said his company understands the role LanzaTech can play in helping it decarbonise and produce “valuable products” from carbon-bearing gases.

“Extending our relationship through this investment was therefore a natural next step,” he said.

Its previous investments made through the XCarb innovation fund included $10m (£7.5m) in renewable energy technology company Heliogen, $25m (£18.8m) in Form Energy which is developing a low-cost iron-air battery storage technology and a commitment of $100m (£75m) over five years in Breakthrough Energy’s Catalyst programme.

In 2020, ArcelorMittal reported revenues of $53.3 billion (£40b) and crude steel production of 71.5 million tons, while iron ore production reached 58m tons.

More For You

JLR-Getty
A logo is pictured outside a Jaguar Land Rover new car show room in Tonbridge, south east England. (Photo: Getty Images)

Jaguar Land Rover says no customer data stolen in cyber breach

JAGUAR LAND ROVER (JLR) said on Friday it is working "at pace" to resolve a cyber incident that has severely affected its retail and production activities. Factory staff have been told to stay at home until at least early next week.

The company disclosed the breach on Tuesday, the latest in a series of cyber and ransomware attacks against businesses globally. Companies such as Marks & Spencer and Co-op have also been hit by breaches in recent years.

Keep ReadingShow less
Co-op and Bestway strike new deal to back independent retailers

Dawood Pervez (L), managing director at Bestway Wholesale and Katie Secretan, managing director of Co-op Wholesale

Co-op and Bestway strike new deal to back independent retailers

A NEW partnership has been formed between Co-op Wholesale and Costcutter Supermarkets Group (CSG) to support independent retailers across the UK.

Goes beyond the standard supply deal, it aims to bring the combined expertise and resources of both businesses together, helping local retailers compete in an increasingly tough convenience market, a statement said on Thursday (4).

Keep ReadingShow less
Nirmala Sitharaman

India's finance minister Nirmala Sitharaman said the Goods and Services Tax (GST) structure would be simplified from four slabs to two, with reductions across several sectors. (Photo: Getty Images)

India cuts consumption taxes, simplifies structure into two slabs

INDIA announced a major cut in consumption taxes on Wednesday, days after the United States imposed steep tariffs on Indian goods.

India's finance minister Nirmala Sitharaman said the Goods and Services Tax (GST) structure would be simplified from four slabs to two, with reductions across several sectors. In some cases, levies have been reduced by more than half.

Keep ReadingShow less
Jio Platforms

Jio Platforms includes India’s largest telecom operator, Reliance Jio Infocomm, with more than 500 million users. (Photo: Reuters)

Reuters

Jio IPO planned for mid-2026, AI unit announced with Meta and Google

RELIANCE Industries plans to take its telecom and digital arm, Jio Platforms, public by mid-2026, chairman Mukesh Ambani said on Friday. The announcement sets a new timeline for the long-awaited IPO of a business analysts value at over $100 billion.

At its annual general meeting (AGM), Reliance also announced the launch of an artificial intelligence unit in partnership with Google and Meta.

Keep ReadingShow less
Asda tech overhaul

Asda sales fell 0.2 per cent in the three months to June 30, 2025 (AFP via Getty Images)

AFP via Getty Images

Asda boss hails tech overhaul as key to revival despite sales slump

THE chairman of Asda has admitted the supermarket chain still faces challenges after sales slipped again over the summer, but said the completion of a major IT overhaul was crucial for its recovery.

Allan Leighton told the Times that the long-delayed technology project, called Project Future, had finally been finished after years of setbacks and costs exceeding £1 billion. The work involved separating more than 2,500 systems inherited from former owner Walmart, following Asda’s 2021 takeover by TDR Capital.

Keep ReadingShow less