If even billions in subsidies are no longer enough, the situation is serious. Extremely serious. Germany’s largest steel company, Thyssenkrupp Steel Europe, has received two billion euros in funding from the federal and state governments to build and operate a so-called direct reduction plant. The 135 meter high tower is intended to replace a climate-damaging blast furnace. Instead of coke and coal, he produces pig iron using green electricity and climate-friendly hydrogen. But the board of the struggling company is now questioning the project because of fears that the hydrogen will be too expensive.
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