Japan: METI doubles budget for decarbonising steelmaking R&D

Source: Steelmint Sep 22, 2023 08:30

The Ministry of Economy, Trade and Industry (METI) has announced that it will double the budget for research and development projects aimed at decarbonising the steelmaking process. An additional JPY 256.4 billion ($1.7 billion) will be added to the budget of the Green Innovation (GI) Fund, and approximately JPY 450 billion ($3.06 billion) will be invested in the existing budget of JPY 193.5 billion ($1.32 billion) to accelerate research and development and accelerate the time for practical application.

The additional budget will be allocated to the expansion of demonstration facilities for existing projects, such as technology to utilise hydrogen as a reducing material in blast furnaces, as well as the development of technologies for the use of new electric melting furnaces. The additional budget was allocated to JPY