The $100 million equity investment in Gates’ Breakthrough Energy will be made over five years via ArcelorMittal’s XCarb innovation fund, and will go toward scaling-up the technologies needed to achieve net-zero carbon emissions by 2050.
The XCarb fund was launched earlier this year
to invest in technology that will accelerate the transition to net-zero-carbon steelmaking.
Investments made so far include $10 million in renewable energy company Heliogen
and $25 million in the development of energy storage technology by Form Energy
ArcelorMittal has launched several projects across its European assets in attempts to reduce its carbon...