South Korean steelmaker POSCO plans to build a 1-million-ton-a-year commercial steel production facility using hydrogen between 2026 and 2030.
The company has previously confirmed that it will use green hydrogen using HyREX technology to produce the direct reduced iron (DRI) needed for electric arc furnaces.
If the use of HyREX technology is successful, it could eventually replace POSCO blast furnaces and help the group become carbon neutral by 2050.
POSCO International, one of the group's divisions, will also work with small and medium-sized enterprises to invest 20 billion Korean won to build scrap steel collection bases across Korea by 2025.
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