ArcelorMittal has last week launched its search for the best companies and brightest ideas focused on breakthrough technologies which hold the potential to accelerate the decarbonization of the steel industry. Breakthrough technology start-ups worldwide are invited to submit applications to compete for investment from ArcelorMittal’s XCarb Innovation Fund, which aims to invest up to USD 100 million annually in such transformative technologies, and access to ArcelorMittal’s advice and expertise in innovation, research and development, technology commercialization and business mentorship.Applicants will need to be registered start-ups with concepts for commercially scalable technologies that hold strong potential to decarbonize steelmaking. Eligible start-ups can apply from anywhere in the world as the fund is keen to make investments in the most innovative technology on a global basis, to support ArcelorMittal’s decarbonization journey. First round submissions are due in by 20 June with more details about the program. Submissions are invited across seven distinct technology domains:1. Disruption in steelmaking (processes and technologies)2. Waste to gas or bio carbon (innovative ways to convert waste)3. Gases reforming & Gases transformation technologies4. Disruptive hydrogen technologies5. Carbon capture, utilization and storage (specifically carbon capture with transformation to chemicals & fuel or permanent sequestration & mineralization)6. Long-term, large-scale energy storage technologies7. Clean energy technologiesFinalists will be invited to pitch their ideas at an Accelerator Day in mid-late July for the chance to secure investment support from the fund to scale up their pioneering projects and help drive progress towards a lower emissions future in front of a panel of industry-experts.Aligned with ArcelorMittal’s purpose, ‘Smarter steels for people and planet’, the XCarb Innovation Fund invests in companies with the potential to accelerate the transition to low, and ultimately zero, carbon emissions steelmaking, enabling them to develop more quickly and achieve the scale needed for their technologies to become commercially viable. The support on offer is not just monetary, successful applicants will also have access to:1. Unparalleled industry expertise and advice2. Industry leading research centres and R&D programs to accelerate technological development3. Commercial expertise regarding technologies, IP protection and global roll-out4. Significant back office and group functional capability to enable scale-up and speed up time to market
ArcelorMittal has last week launched its search for the best companies and brightest ideas focused on breakthrough technologies which hold the potential to accelerate the decarbonization of the steel industry. Breakthrough technology start-ups worldwide are invited to submit applications to compete for investment from ArcelorMittal’s XCarb Innovation Fund, which aims to invest up to USD 100 million annually in such transformative technologies, and access to ArcelorMittal’s advice and expertise in innovation, research and development, technology commercialization and business mentorship.Applicants will need to be registered start-ups with concepts for commercially scalable technologies that hold strong potential to decarbonize steelmaking. Eligible start-ups can apply from anywhere in the world as the fund is keen to make investments in the most innovative technology on a global basis, to support ArcelorMittal’s decarbonization journey. First round submissions are due in by 20 June with more details about the program. Submissions are invited across seven distinct technology domains:1. Disruption in steelmaking (processes and technologies)2. Waste to gas or bio carbon (innovative ways to convert waste)3. Gases reforming & Gases transformation technologies4. Disruptive hydrogen technologies5. Carbon capture, utilization and storage (specifically carbon capture with transformation to chemicals & fuel or permanent sequestration & mineralization)6. Long-term, large-scale energy storage technologies7. Clean energy technologiesFinalists will be invited to pitch their ideas at an Accelerator Day in mid-late July for the chance to secure investment support from the fund to scale up their pioneering projects and help drive progress towards a lower emissions future in front of a panel of industry-experts.Aligned with ArcelorMittal’s purpose, ‘Smarter steels for people and planet’, the XCarb Innovation Fund invests in companies with the potential to accelerate the transition to low, and ultimately zero, carbon emissions steelmaking, enabling them to develop more quickly and achieve the scale needed for their technologies to become commercially viable. The support on offer is not just monetary, successful applicants will also have access to:1. Unparalleled industry expertise and advice2. Industry leading research centres and R&D programs to accelerate technological development3. Commercial expertise regarding technologies, IP protection and global roll-out4. Significant back office and group functional capability to enable scale-up and speed up time to market
