ArcelorMittal invests $30M in LanzaTech through XCarb innovation fund

In Belgium, ArcelorMittal has made a $30 million investment in carbon recycling company, LanzaTech through its XCarb™ innovation fund, the fourth investment the company has made through the fund since its launch in March 2021.

The investment further expands ArcelorMittal’s relationship with LanzaTech, which commenced in 2015 when the Company first announced plans to utilize LanzaTech’s carbon capture and re-use technology at its plant in Ghent, Belgium. The €180 million Carbalyst® plant – ArcelorMittal’s flagship carbon capture and re-use technology project – is currently under construction, with commissioning expected before the end of 2022. Also known as the Steelanol project, funding has been obtained from various sources, including from the European Union’s Horizon 2020 program and the European Investment Bank.