Jacobs has been selected as Program and Construction Management partner for thyssenkrupp Steel’s $2.5B effort to decarbonize its steel mill in Duisburg, Germany. According to thyssenkrupp, the site is Europe’s largest steel mill, and the effort represents one of the largest industrial decarbonization projects worldwide. The project encompasses a new process using green hydrogen for iron reduction, replacing traditional coal-powered blast furnaces with hydrogen-powered electric smelters. thyssenkrupp Steel Europe AG is Germany’s biggest steel manufacturer. The first plant is scheduled to go on stream in Duisburg in 2026. Production of five million metric tons of low-CO2 steel is already planned for 2030.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on J:
- Jacobs Solutions (NYSE:J) Drops on Q4 Bottom Line Miss
- Jacobs Reports Fiscal Fourth Quarter and Fiscal Year 2023 Earnings
- Jacobs to Spin-off and Merge its Critical Mission Solutions and Cyber & Intelligence Government Services Businesses with Amentum, Creating an Independent, Publicly Traded Company
- Options Volatility and Implied Earnings Moves This Week, November 20 – November 23, 2023
- Is J a Buy, Before Earnings?