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  • ThyssenKrupp steel business is a double disaster.

  • Besides losing nearly a billion euros last year, it accounts for nearly 3% of Germany's C 02 emissions.

  • Tackling that will test Berlin's green resolve first to some, crab would need to refit it's blast furnaces.

  • These used coal to turn iron or into iron.

  • And unfortunately, co two replacements would be electric arc furnaces that use hydrogen to do the chemical heavy lifting.

  • The only by product is water, but that switch could cost more than €7 billion.

  • And then there's the problem of power to be truly green.

  • The hydrogen has to come from water split via electrolysis and with the electricity coming from renewable sources.

  • And it's a lot of electricity based on McKinsey.

  • Estimates in one year to some crew were consumed more than the quarter off Britain's entire wind energy output.

  • But that doesn't mean it's impossible.

  • Germany has to do something about co two emissions.

  • Berlin is already throwing €9 billion.

  • Hydrogen research, as technology improves on carbon taxes, make traditional steel more expensive.

ThyssenKrupp steel business is a double disaster.

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B1 INT hydrogen resolve berlin electricity steel iron

Breakingviews TV: Thyssenkrupp is acid test of German green resolve

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    林宜悉 posted on 2020/11/21
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