- Key funding will allow significant expansion ArcelorMittal’s Research and Development activities on decarbonisation
- A project covering capital expenditure in several EU countries: France, Belgium, Luxembourg and Spain.
- The loan is backed by a guarantee from the European Fund for Strategic Investments, the main pillar of the European Commission’s Investment Plan for Europe.
The €280m loan granted to ArcelorMittal by the European Investment Bank (EIB) backed by the Investment Plan for Europe will help to fund the group’s European research and development programme over the period 2021-2023.
This major funding initiative aims at supporting ArcelorMittal’s research activities and the associated capital expenditure in the field of environmental, climate and energy projects. It will help the group to reach its ambitious climate action goals and thus to reduce the environmental footprint of its manufacturing facilities, steel products and technological solutions. ArcelorMittal Europe has committed to reduce CO2 emissions intensity by 35% by 2030, with the ArcelorMittal group having set a 2050 net-zero emissions target.
This partnership between the EIB and ArcelorMittal is backed by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe. In general, at least 40% of EFSI infrastructure and innovation projects aim to contribute to climate action in line with the Paris Agreement. This project will also contribute to EU industry’s leadership as provider of high-tech steel grades, products and solutions.
New products, process improvements and technical solutions are expected to bring significant positive environmental results, in terms of direct and indirect greenhouse gases emission reduction.
The research and development activities supported through the new investment will be carried out primarily in ArcelorMittal’s existing R&D facilities in France, Belgium, Luxembourg and Spain.
Vice-President of ArcelorMittal and Head of Research and Development
Vice-President of the EIB
European Commissioner for the Economy
In 2017, the ArcelorMittal Group and the European Investment Bank (EIB) signed a financing agreement for €350m, supported by the Investment Plan for Europe, to help to fund the Group’s European research and development programme over the period 2017-2020.
In 2020, the EIB granted a €75m loan to ArcelorMittal supported by InnovFin Energy Demonstration projects and financed under Horizon 2020 and the NER 300 funding programme of the European Commission.
The funding supported the ArcelorMittal Group’s research and development activities and associated capital expenditure, in various fields:
- Innovative casting technologies
- Circular economy and CO2 reduction
- Alternative coatings to replace Chromium 6
- New rolling technologies for energy reduction
- Blast furnace decarbonisation
- Additive manufacturing for steel applications
- Development of innovative high strength steels for automotive
- Development of low loss electrical steel to improve engines’ energy retention
- Substrates and coatings for global energy transition applications (solar, windmills etc.)