ArcelorMittal to invest $100 mln in decarbonization technologies with Bill Gates

ArcelorMittal is preparing to invest $100 million from its innovation fund into a company founded by Bill Gates, best known as the founder of Microsoft, to develop decarbonization technologies, it announced on Monday September 20.

The $100 million equity investment in Gates' Breakthrough Energy will be made over five years via ArcelorMittal's XCarb innovation fund, and will go toward scaling-up the technologies needed to achieve net-zero carbon emissions by 2050.
The XCarb fund was launched earlier this year to invest in technology that will accelerate the transition to net-zero-carbon steelmaking.
Investments made so far include $10 million in renewable energy company Heliogen and $25 million in the development of energy storage technology by Form Energy.

ArcelorMittal has launched several projects across its European assets in attempts to reduce its carbon...

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