Corus (London:CS.L), Arcelor (Paris:CELR.PA)and TKS are leading a consortium of steel firms in a 40 million euro research project on technologies to cut carbon dioxide emissions in steelmaking.
The European Commission requested the industry look into this because its production processes are based 60% on coal and cokes, with significant carbon dioxide emissions.
The companies have submitted a proposal to the EU executive for a five-year research project called ULCOS (Ultra Low CO2 Steelmaking). The EC may subsidize up to 50% of of the project.
The consortium includes almost all European steel companies and some 40 industrial organisations, research institutes and universities.
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