bp and thyssenkrupp Steel have signed a memorandum of understanding (MoU) focused on the development of a long-term supply of low carbon hydrogen and renewable power in steel production, helping accelerate the steel industry’s wider energy transition. The companies will explore supply options for both blue and green hydrogen, as well as power from wind and solar generation through the use of power purchase agreements.
The companies also intend to jointly advocate for policies that will support the development of low carbon hydrogen and the growth of green steel in Europe.
thyssenkrupp Steel currently produces 11 million tonnes of crude steel per year and is targeting the production of 400,000 tonnes of CO2-reduced steel by 2025.
bp is working to pursue green hydrogen production at its refineries in Lingen in Germany, Rotterdam in the Netherlands and Castellón in Spain. It is developing both blue and green hydrogen production projects around the world, including in the UK and Australia.