The Government of Ontario unveiled half a billion dollars in support for ArcelorMIttal Dofasco’s green steel future.
The Government of Ontario recently announced a major commitment to supporting Hamilton’s steel making industry, auto parts supply chain, and skilled trades workforce through a $500 million contribution to ArcelorMittal Dofasco’s $1.8 billion green steel transformation process.
Ontario’s contribution is part of a major transformation process for ArcelorMittal Dofasco. ArcellorMittal Dofasco currently uses carbon-intense coke ovens and blast furnaces in their steel making process. The current transformation will replace this technology with hydrogen-ready electric arc furnaces, ensuring that Hamilton is leveraging green energy for the production of green steel.
A transformation of this scope will have far-reaching and positive impacts for the city of Hamilton and its residents. Removing blast furnaces from the steel production process will reduce carbon dioxide emissions by approximately three million tonnes per year. This change is the equivalent of taking more than a million cars off the road.
As the value of green steel in environmentally conscious construction projects continues to grow, Hamilton and Hamilton’s products will see new advantages on international markets and offer new reasons for investing here at home. Additionally, the investment in new technologies will create new jobs for the people of Hamilton, while also retaining existing steel making jobs in Hamilton.
For more information on how the City of Hamilton supports advanced manufacturing, please click this link.