ArcelorMittal-John Cockerill Plan To Build Low-Temperature Iron Electrolysis Plant, Targets Production In

ArcelorMittal SA (NYSE:MT), along with John Cockerill, announced the construction of the world's first industrial-scale low-temperature iron electrolysis facility, the Volteron plant.

The Volteron plant, which is expected to start production in 2027, will produce between 40,000 and 80,000 tonnes a year of iron plates in the first phase.

With technological upgradation, the facility's annual capacity can be increased to between 300,000 and 1 million tonnes.

Apart from both companies, the projects have several partners, including University of Aveiro, National Technical University of Athens and Norwegian University of Science and Technology.

This next phase of the project will be carried forward as an exclusive partnership between ArcelorMittal and John Cockerill.

"This is a tremendously exciting development and opportunity for our company. We have been working on direct electrolysis technology for some time given the potential it holds to decarbonise steelmaking. Having now proven our energy efficient, low temperature process at a pilot level, the natural next step for us is to progress to an industrial plant. We intend to achieve this target within four years and be the first in the world to produce steel at scale via low temperature electrolysis," said Brad Davey, EVP and head of corporate business optimisation, ArcelorMittal.

Last week, the North America Division inked a deal with General Motors Co (NYSE:GM) to supply North American-sourced sustainable XCarb steel.

Price Action: MT shares are trading higher by 2.93% at $28.76 premarket on the last check Wednesday.

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ArcelorMittal-John Cockerill Plan To Build Low-Temperature Iron Electrolysis Plant, Targets Production In 2027