As we touched on in our last episode with John O’Donnell of Rondo Energy, industry is a major contributor to global CO2 emissions, and it is only forecasted to get worse. According to a recent report from Rhodium Group, by 2050, the industrial sector could emit as much CO2 as the power, transportation, and building sectors combined.
A term worth highlighting in this month’s episode is “Hard-to-abate”. This term refers to industrial sectors like cement, petrochemicals, and steel that people have continually categorized as too costly, slow, or lacking the necessary technology to decarbonize.
For this episode, our focus is on steel. Carbon emissions, air, and water pollution from steel production can be largely attributed to their use of coal-fired blast furnaces, technology created in the 14th century. There are serious challenges to altering any centuries-long established production process, but as our guest today, Henrik Henriksson, CEO of Stegra (formerly H2 Green Steel) knows, when you replace coal with renewable energy, you can produce hydrogen, iron, and steel, with significantly lower emissions.
Sponsors
Watt It Takes is brought to you by Microsoft.
The $1 Billion Microsoft Climate Innovation Fund is investing in innovative technologies that have the potential for meaningful, measurable climate impact by 2030. To date, Microsoft has allocated more than $800M into a global portfolio of over 50 investments including sustainable solutions in energy, industrial, and natural systems. Visit https://www.microsoft.com/en-us/corporate-responsibility/ to learn more about Microsoft’s progress toward their impact commitments.
About Powerhouse Innovation and Powerhouse Ventures
Powerhouse Innovation partners with leading corporations and investors to help them find, partner with, invest in, and acquire the most innovative startups in climate.
Powerhouse Ventures backs entrepreneurs building the digital infrastructure for rapid decarbonization.
To hear more stories of founders building our climate positive future, hit the “subscribe” button and leave us a review.