XCarb will is set to proivide $100m in funding for startups each year to support ArcelorMittal’s aim of carbon-neutral steel production.
Luxembourg-registered multinational steelmaker ArcelorMittal has set up a corporate venturing fund to invest up to $100m per year in startups that can help it transition to carbon-neutral steel production.
XCarb innovation fund will invest in companies “developing directly applicable, commercially scalable technologies that offer strong potential to decarbonise the steelmaking process,” ArcelorMittal said in a statement.
Aditya Mittal, ArcelorMittal’s CEO, said: “The fund we have launched today adds an exciting, complementary new element to our CO2 technology strategy. We will…
