MELBOURNE, Sept 18 (Askume) – Australia’s BlueScope Steel (BSL.AX) has signed a preliminary agreement with Israel’s Helios Project to begin testing green iron produced from coal in 2026, it said on Wednesday.
Helios developed a method to produce iron and other metals using sodium as a reducing agent. Its production requires less energy than traditional methods and there are no direct carbon emissions. The process releases only oxygen, he said.
Andrew Gere, CEO of BlueScope Ventures fund BlueScopeX, said: “Decarbonising the steel industry is an incredible challenge and we are delighted to be working with companies like Helios who can support us on our journey.
Helios said the technology could be used to produce green iron from a variety of iron ores, including low-grade ores found in Australia, which supplies about half of the world’s seaborne iron ore.
The steel industry accounts for around 10% of global emissions.
