Thyssenkrupp is reassessing its ambitious plan to produce green steel at its Duisburg facility amid rising costs. The German government has invested billions of euros in subsidizing the project. The production of “green steel” by adapting a climate-neutral production method is being reviewed as per the internal reports. According to the reports, the company’s senior […]
The foundation was set for one of Europe’s largest green hydrogen production plants, on Thursday, according to reports. Scheduled to begin operations in 2026, the plant will produce approximately 9,000 tons of green hydrogen annually to be used in the production of carbon-reduced steel. This initiative represents a step in the industrial application of hydrogen […]
The Czech investor Daniel Kretinsky has confirmed his interest in Thyssenkrupp Steel. Daniel Kretinsky runs and owns Energeticky, a prumyslovy holding (EPH), the biggest energy group in Central Europe. During the 2020 market crash, he took the stock market by storm, making bets on companies like Macy’s, Foot Locker, Sainsbury, and Royal Mail. Thyssenkrupp shares […]
Thyssenkrupp has planned its commitment to a €3 billion ($3.1 billion) green steel production site, indicating that the project could proceed even if Germany’s aspirations to establish a world-leading hydrogen industry fail. German opposition leader Friedrich Merz, who is widely regarded as a strong candidate for the chancellorship in next month’s election, Speaking on Monday […]
Germany is taking a significant step towards renewable energy with the installation of solar systems [1] along motorways near the Garzweiler open-pit lignite mine in North Rhine-Westphalia. The Garzweiler open pit mine has been operational for over a century and is expected to continue functioning until 2045. However, the mine’s future land use and reclamation […]
Germany’s manufacturing sector ended 2024 on a sour note, with sharper drops in both output and new orders, signaling continued struggles for the industrial backbone of Europe’s largest economy, a survey showed on Thursday. The HCOB Germany Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, fell to 42.5 in December from 43.0 in October […]
German business associations have expressed concerns about worsening economic conditions, with many predicting further challenges in 2025, according to a survey released on Friday by the German Economic Institute (IW) “The German economy won’t get off the ground in 2025 either,” said IW Director Michael Huether in a report by Reuters. German business associations gave […]
Solarstrom Grebs GbR, a German private investment company, has announced an ambitious plan to transform unused land [1] into a state-of-the-art solar installation in Brandenburg. This project aims to install a 922 kW community solar farm on 0.7 hectares of previously unused land, providing clean and affordable energy to approximately 250 households in the local […]
GMM Pfaudler to Establish Manufacturing Facility in Poland with 51% Stake in Polish Firm GMM Pfaudler Ltd, a global leader in corrosion-resistant technologies, announced plans to set up a manufacturing unit in Poland to enhance its production capabilities in Europe. The company, through its German subsidiary Pfaudler GmbH, signed an Investment and Shareholders’ Agreement on […]
Electra, headquartered in Boulder, Colorado, has signed a memorandum of understanding with German steel and raw materials trader Interfer Edelstahl Group to partner on clean iron production for specialty steel. Electra is a producer of low-carbon iron and is transforming the environmental footprint of the iron and steel industry by utilizing chemistry and renewable energy […]
German Environmental Aid (DUH) has filed a lawsuit against Adidas AG [1] at the Nuremberg-Fürth Regional Court, challenging the sportswear giant’s pledge to become “climate neutral” by 2050. The environmental organization claims that Adidas’s advertising campaign lacks concrete details on how the company plans to achieve this goal, accusing the company of “greenwashing.” DUH’s Federal […]
German Chancellor Olaf Scholz has indicated that the German government may consider acquiring a stake in Thyssenkrupp’s steel business, he said in an interview with a German newspaper. However, earlier this year, Thyssenkrupp sold a 20% stake in its steel division to Czech billionaire Daniel Kretinsky and is currently in discussions to sell an additional […]
In a growing trend of cross-industry collaboration in sustainable luxury design, BMW has partnered with British Vogue [1] to celebrate emerging talent through their Future Creators Design Competition. This is the first collaboration of its kind between automotive and fashion design. The competition invited aspiring designers, including students and recent graduates, to create pieces inspired […]
Stegra and Uniper have signed a long-term agreement for the supply of 6 TWh of electricity to Stegra’s plant in Northern Sweden. Uniper is an energy company with global reach and activities in more than 40 countries. In a long-term power purchase agreement (PPA) with Uniper, Stegra secures a yearly supply of electricity produced over […]
Thyssenkrupp’s steel division has announced plans to reduce its workforce by approximately 40% in the coming years, marking the latest significant restructuring effort by the German industrial giant. Workers have opposed the move strongly. Germany’s largest steelmaker, a division of Thyssenkrupp AG, is also facing competition from Asian companies that were not competitors earlier, with […]
Thyssenkrupp, Germany’s largest steelmaker, has announced a €1 billion writedown of its steel division, warning of a structural decline in demand from European industries along with the cost of decarbonization said in a report by Financial Times. The latest write-down of Thyssenkrupp’s steel business comes down with hopes that Czech billionaire Daniel Kretinsky, who currently […]
MCM, a high-end German fashion brand, has launched a new capsule collection named Mirum. This collection includes an innovative, environmental friendly and cruelty-free alternative to traditional leather. “Traditional leather alternatives are heavily reliant on fossil-fuel derived synthetics, which do not biodegrade and contribute to the global plastic issue. That’s why we are proud to partner […]
Major shareholder of Salzgitter, GP Günter Papenburg was considering a potential takeover of the German steelmaker with a partner., reported by Reuters. GP Günter Papenburg has notified the Company that it is considering, together with TSR Recycling GmbH & Co. KG (jointly the “Consortium”), to submit a voluntary public takeover bid to the shareholders of […]
The Arab Development Establishment (ADE) and Schneider Electric have officially inaugurated their joint venture manufacturing facility, TAQANA Energy Solutions, in Abu Dhabi’s Industrial City. The opening ceremony was attended by key dignitaries, including government officials and industry leaders, and aligns with the UAE’s “Make it in the Emirates” initiative. His Excellency Omar Al Suwaidi […]
thyssenkrupp Steel and Volkswagen Group have joined forces to advance green steel production. thyssenkrupp Steel’s direct reduction plant, set to begin operations in 2027, will utilize hydrogen and green electricity, significantly lowering the carbon footprint compared to traditional steel manufacturing methods. Initially, the plant will use natural gas as a reducing agent, gradually transitioning to […]
Austrian steelmaker voestalpine, has announced its decision to sell its German subsidiary, Buderus Edelstahl, to an investment firm, Mutares. Buderus Edelstahl is considered the High Performance Metals Division of voestalpine that is concentrating its product portfolio on the technologically demanding high-performance materials segments. This decision was made to support the future growth of Buderus Edelstahl. […]
Salzgitter group companies are supplying SALCOS®green steel to South Africa for the first time for testing purposes. This investment gives them the first tier-1 supplier in the country to be using CO2-reduced steel for their customers’ vehicle production. The two companies that have partnered in the same are Allied Steelrode and Malben Engineering in South Africa. As per SALCOS®, they […]
Germany – Thyssenkrupp is asked to fix the crisis surrounding its steel unit including providing clarity around a 3 billion euro ($3.3 billion) green steel project co-funded by the government, as per the comments of Economy Minister Robert Habeck on Wednesday. Reports say that the project of the company’s proposed Direct Reduction Plant at its steel hub in Duesburg is put under […]
Frankfurt– The German conglomerate, Thyssenkrupp has been considering to halt their 3- billion- euro ($3.3 billion) decarbonisation project. Thyssenkrupp is reviewing plans for production of green steel. The conversion to green steel is the prestige project of ThyssenKrupp and the Federal Government, but is subjected to termination due to partial sale. Ridden by crisis, the […]
Düsseldorf, Germany – Management of Germany´s Thyssenkrupp will propose reorganizing the steel division after several board members quit over heavy losses from an initial plan to split it, business daily Handelsblatt reported. The changes arrive at a time when the crisis-ridden industrial group is mired in internal discord over leadership transitions. Dirk Schulte, former Chief Human […]
