Published by Todd Bush on November 15, 2024
LONDON--(BUSINESS WIRE)-- Rio Tinto has entered into definitive agreements with GravitHy, an early-stage industrial company, to help accelerate GravitHy’s steel decarbonisation project in France.As part of this collaboration, Rio Tinto will supply high-grade direct reduction iron ore pellets from its Iron Ore Company of Canada (IOC) operations to GravitHy’s planned operation, as well as manage the sales and marketing of ultra-low carbon Hot Briquetted Iron (HBI) GravitHy produces.
>> In Other News: Center for Transportation and the Environment to Lead Innovative Battery-Free Fuel Cell Bus Project
GravitHy's proposed two million tonnes per year iron production facility at Fos-sur-Mer, France, is planned to be commissioned in 2028.
The facility, which is located next to a deep seaport, will feature ultra-low carbon hydrogen production infrastructure, powered by existing grid-connected nuclear power, to process direct reduction pellets into HBI. This process has the potential to reduce ironmaking-related CO2 emissions by more than 90%.
Steel produced with low-carbon emissions is an essential component of the net-zero energy transition.
The production of iron and steel contributes around 8% of global carbon emissions and requires new technologies, redesigned processes, and new infrastructure to decarbonise.
"We are developing one of the most advanced ultra-low-carbon iron projects worldwide, designated by the French government as an ‘Industrial Project of Major National Interest,’" said José Noldin, Chief Executive Officer of GravitHy. "By combining our business ambitions, agility, and technological capabilities with Rio Tinto’s global leadership in mining and steel decarbonisation, we are ensuring a solid sourcing and go-to-market strategy to help accelerate the development of this project."
"This collaboration is aligned with Rio Tinto’s steel decarbonisation strategy to accelerate the development of low-carbon Electric Arc Furnace steelmaking with high-grade iron as feedstock," said Simon Farry, Head of Steel Decarbonisation at Rio Tinto. "This will allow us to both reduce our Scope 3 emissions and create valuable decarbonised pathways for our high-grade iron ore. We are excited to support GravitHy’s project and expand our understanding of the emerging green iron and steel market."
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue ⚡ Google's Power Play: First CCS Deal Reshapes Energy 🌎 True North Carbon's Tamarack Project, Canada's Largest Single-Technology Direct Air Capture Deployment, Achieves First Cap...
Inside This Issue 💰 The $27/ton Question: What Makes a Carbon Removal Credit Worth 3x More? 🛢️ EPA Issues Three Class VI Permits to ExxonMobil in Jefferson County, Texas 🌍 UN Endorses First Articl...
Inside This Issue 🪣 Shovels Hit the Ground on California’s First Carbon Storage Hub 🤝 CHARBONE Announces a Strategic Alliance with a Leading U.S. Industrial Gas Producer 📜 Gold Standard Approves M...
LanzaTech Global, Inc. (NASDAQ: LNZA) ("LanzaTech" or the "Company"), a leader in carbon transformation technology, today announced that the investors in its affiliate LanzaJet, Inc. have entered i...
True North Carbon's Tamarack Project, Canada's Largest Single-Technology Direct Air Capture Deployment, Achieves First Capture in Innisfail, Alberta Innisfail, Alberta -- (Newsfile Corp. - October...
MAX Power Receives Drilling License for Canada’s First Dedicated Natural Hydrogen Well
Lawson Drilling Set to Begin in Early November as MAX Power Advances Canada’s First Natural Hydrogen Well October 24, 2025 08:00 ET | Source: MAX Power Mining Corp MAX Power Saskatchewan Natural ...
Google's Power Play: First CCS Deal Reshapes Energy
Google just made a move that could reshape how the tech industry powers its future. The company signed the first-ever corporate power purchase agreement for a natural gas plant with carbon capture ...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.