EU awards €2.9 billion to 61 net-zero technology projects under Innovation Fund
The European Commission has announced the allocation of €2.9 billion to 61 innovative net-zero technology projects under the EU’s Innovation Fund.
The grants follow the first call for net-zero technologies (IF24 Call) launched in December 2024, aimed at strengthening Europe’s technological leadership and accelerating the deployment of decarbonisation solutions across industry. The IF24 Call attracted 359 applications requesting a combined €21.7 billion.
Innovation Fund: €40 billion backbone of EU ETS-financed transition
Funded through revenues from the EU Emissions Trading System (EU ETS), the Innovation Fund supports large-scale investments in low-carbon and net-zero technologies that contribute to the EU’s 2050 climate-neutrality goal.
The 61 selected projects cover 19 industrial sectors across 18 EU countries, focusing on decarbonisation in energy-intensive industries, renewable energy and storage, net-zero mobility and buildings, cleantech manufacturing, and industrial carbon management. Collectively, they are expected to avoid 221 million mt of carbon equivalent emissions during their first decade of operation, comparable to the annual emissions of 9.9 million cars.
Project developers will now begin the grant-agreement preparation phase with the European Climate, Infrastructure and Environment Executive Agency (CINEA) to finalize budgets, timelines and deliverables. Final contracts are expected in the first half of 2026.
Thyssenkrupp Steel withdraws from WV Stahl, Thyssenkrupp AG still to decide
In a major shake-up for the German steel sector, Thyssenkrupp Steel, the country’s largest producer, has officially terminated its membership of the German Steel Federation Wirtschaftsvereinigung Stahl (WV Stahl) to be effective from December 31, 2026, according to a media report by German newspaper The Pioneer.
The withdrawal reflects not only financial strain but also a strategic recalibration, as the company seeks to use personnel and financial resources more efficiently during ongoing restructuring.
The sources stated that they do not believe that the company’s withdrawal during talks with Indian investor Jindal is a coincidence. Thyssenkrupp AG is engaged in negotiations with Jindal Steel International, regarding the potential sale of its steelmaking business Thyssenkrupp Steel, as SteelOrbis previously reported.
The move comes at a time when Germany’s steel industry faces mounting economic pressure, with rising energy costs, foreign competition and uncertain government support. The loss of its biggest member marks a severe blow to WV Stahl’s standing as the unified political voice of the industry.
Thyssenkrupp’s decision underscores growing divisions within Germany’s struggling steel industry. Tekin Nasikkol, chairman of the General Works Council at ThyssenKrupp Steel, described the current environment as “catastrophic.”
According to Thyssenkrupp, the decision “does not mean a departure from industry-wide cooperation”, adding that it continues to back WV Stahl’s positions on trade protection, energy pricing and clean-steel development. Additionally, Thyssenkrupp AG – the parent company – is evaluating whether to follow its steel subsidiary and also leave the association.
Celsa restructures financing with €800m from shareholders
Celsa’s board of directors has announced a new restructuring of the Spanish steelmaker’s finances. This includes a €200 million ($231.4m) cash contribution by current shareholders to the company’s capital, as well as €600m in the form of a subordinated loan.
The refinancing will include “appealing to the debt capital markets”, according to Celsa’s statement monitored by Kallanish. “The adjustment marks the end of the financial reorganisation process that began in September 2023, following the change in control of the company.”
Thanks to the implementation of its industrial plan and a more favourable macroeconomic environment forecast for the steel sector in 2026, Celsa expects significant economic growth and a recovery in revenue next year.
The steelmaker has called an extraordinary shareholders’ meeting on 4 December.
Todor Kirkov Bulgaria
Marcegaglia Ravenna fire causes no major production delays
No major production disruption has been reported at Marcegaglia’s plant in Ravenna, Italy, following a fire that occurred last week. The blaze originated in one of the site’s three cold rolling mills, caused no injuries, and was quickly brought under control, a source close to the company confirms to Kallanish.
A plan to restore the plant’s operations was promptly activated and is expected to be completed within a few weeks. Industrial and commercial agreements were also swiftly put in place to minimise the impact on deliveries, including in the short term.
Several fires have been reported at steelmaker facilities across Europe in recent weeks. One of those affected, ArcelorMittal Fos-sur-Mer, is redirecting certain orders to other plants in France to minimise customer impact. It has sourced slab externally to meet year-end delivery commitments following a fire in October that resulted in a complete production stoppage at the Fos-sur-Mer site.
A fire at Thyssenkrupp Steel’s Bruckhausen section in Duisburg at the end of October caused some damage to facilities at the new hot rolling mill No.4. The fire followed an explosion at the furnace, in which no people were hurt, and was brought under control.
An accident meanwhile recently occurred at Acciaierie d’Italia (ADI)’s Taranto plant. The company said it happened during adjustment operations in the central workshop (see Kallanish passim).
Natalia Capra France
ArcelorMittal Luxembourg SteelUp project advances to completion phase
ArcelorMittal’s SteelUp! project at its Belval plant in Luxembourg is progressing into its final phase, with commissioning of the new electric arc furnace scheduled for the end of 2025, according to a source close to the company.
The final stage began in mid-October with the shutdown of the existing EAF to allow for work on the new equipment. The brownfield SteelUp! project focuses on modernising the Belval site and relocating the production of semi-finished products supplied to the Rodange sections mill. Belval will be equipped with a new EAF, vacuum degassing unit, and a revamped continuous casting line. The modernisation aims to enhance energy efficiency and increase steel production capacity by nearly 15%, Kallanish notes.
With the new EAF replacing the unit that has been in operation since 1997, ArcelorMittal Long Products Luxembourg will become self-sufficient in crude steel production, fully covering the requirements of finished products in the Grand Duchy once the new equipment reaches full production, the source confirms.
The project comprises a digitised “no man on the floor” electric arc furnace with increased safety, a 15% energy consumption reduction, and 15% heavy sections productivity hike. The new vacuum degassing system will reduce dissolved gas. The works include a continuous casting transformation system for new high-carbon steel grades and heavier beam blanks.
The scrap baskets will be enlarged to fill the furnace in one operation, boosting steel melting capacity each cycle. The project also involves a new 150m² platform with a 100-tonne hot-briquetted iron supply system. The imported HBI, used to make Rodange’s semi-finished steel feedstock, is stored in a silo near the scrap yard. This enables the production of metallurgical grades previously only achievable with blast furnaces.
The modernisation will help to reach a certified low carbon footprint for steel of below 300kg per tonne, cutting CO2 emissions by 200,000 t/year. The Belval site will obtain the XCarb label for rails produced from mill A.
The new Belval EAF costs about €67 million ($77.9m), with around €15m funding coming from state subsidies.
ArcelorMittal Luxembourg includes the Belval, Differdange and Rodange sites. Belval comprises an electric steelworks and two rolling mills. The steelworks produces semi-finished products mainly intended for the Belval Medium Section Mill and Train A in Rodange. The new Belval EAF will increase ArcelorMittal Luxembourg production to 2.5 million tonnes/year of steel.
Natalia Capra France