EIB injects €75m into innovative low carbon steelmaking technologies

The bank has granted a €75m loan for two fuel projects in Belgium set to reduce up to 350,000 tonnes of carbon dioxide per year in their first phase

The European Investment Bank (EIB) has granted a €75 million (£66m) loan for two fuel projects in Belgium set to reduce up to 350,000 tonnes of carbon dioxide per year in their first phase.

This is equivalent to the greenhouse gas (GHG) emissions produced by a quarter of a million passenger vehicles being driven for one year - it will be delivered by creating new fuels to be used in steelmaking processes.

The first plant will capture waste gases and convert them into recycled carbon ethanol, a recycled carbon chemical which can then be blended for use as a liquid fuel. Once complete, the plant is expected to produce up to 80 million litres of recycled-carbon ethanol a year.

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