Direct grant and conditional payment to ThyssenKrupp Steel

In 2023, the Commission approved a EUR 550 million (~USD 579 million) direct grant and conditional payment mechanism of up to EUR 1.45 billion (~USD 1.53 billion) to support ThyssenKrupp Steel Europe in decarbonising its steel production and accelerating renewable hydrogen uptake. In July 2023, Habeck and Neubaur handed over a funding notice worth EUR 2 billion for the project tkH2Steel. Start of operation of the new DRI plant was planned for end of 2026 with a capacity of 2.3 Mtpa direct reduced iron.

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