GravitHy has signed a land concession agreement with the port of Marseille for a site in an industrial and port area in Fos-sur-Mer in southern France. This is an important step towards the creation of an environmentally friendly plant for the production of direct reduction cast iron and hot briquetting based on hydrogen, which is scheduled to be commissioned in 2029.
According to the Port of Marseille, the project is intended to play a key role in decarbonizing the steel industry, which can reduce carbon dioxide emissions by up to 90%.
"This partnership is fully consistent with our decarbonization strategy and the port's natural heritage conservation plan," said Hervé Martel, president of the Port of Marseille-Foc, in a note obtained by Kallanish.
. "In Fos-sur-Mer, we are building much more than just a factory: we are laying the foundations for a new steel industry – decarbonized, sustainable and independent. GravitHy is working hand in hand with the region to turn the energy transition into an industrial reality," says GravitHy President Jose Noldin.
In March, GravitHy completed a funding round totaling 60 million euros ($69 million). The financing will facilitate the conclusion of contracts, completion of engineering surveys and obtaining permits. The company is negotiating with potential investors on the transition to the construction and commercialization stages. It is expected that the final investment decision will be made by 2026.
The 2.2 billion euro facility is expected to produce up to 2 million tons of DRI and HBI per year based on hydrogen produced by a 750 MW electrolyzer. Investors include the Japanese Hydrogen Fund, Marcegaglia, Rio Tinto and Siemens Financial Services.
Natalia Capra France
Kallanish.com
