Tata Steel is teaming up with global technology firm ABB to develop innovative solutions that reduce the carbon footprint of steel production.
Tata Steel, with an annual crude steel capacity of 35 million tons, has set ambitious sustainability goals, including achieving carbon neutrality by 2045. One of its immediate targets is to reduce carbon emissions to less than two tons of carbon dioxide per ton of crude steel in its Indian operations by 2025.
What Happened: To achieve these goals, Tata Steel and ABB will conduct comprehensive assessments of Tata Steel’s manufacturing plants and production facilities. They will collaborate on short and long-term strategies for improving energy efficiency, reducing carbon emissions and plugging other gaps.
“Steel companies know there are opportunities to improve their processes, and Tata Steel is one of the leaders in this movement towards energy efficiency and reducing carbon footprint,” said Vipul Gautam, group vice president at ABB.
Tata Steel’s sustainability efforts include using more scrap in steelmaking, adopting alternative fuels like natural gas and green hydrogen, utilising renewable energy, and implementing carbon capture and storage or utilisation technologies. The company also aims to increase its capacity to 40 million tons by 2030 while maintaining a strong focus on sustainability.
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As part of their collaboration, ABB and Tata Steel will explore the use of hydrogen as an alternative fuel for upstream processes and investigate energy optimisation and electrification solutions, including ABB’s eMine and e-Mobility technologies.
Price Action: Shares of ABB India were up 0.80 at ₹4,476.15 in late hours of trading on Wednesday.
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