- ArcelorMittal, a global steel and mining company, launching the “XCarb™ innovation fund.”
- The fund anticipates investing up to $100m annually in companies developing technologies with the potential to support and accelerate the transition to net zero carbon steelmaking
- It will invest in a diversified portfolio of companies to ensure it captures the best and most important technologies under development
- The fund isa part of ArcelorMittal’s wider XCarb™ sustainability initiative launched today to drive progress towards carbon neutral steel
- The fund will also governed by an investment committee, comprising senior executive management members from functions and segments across the company’s global operations and chaired by the CEO
- ArcelorMittal is a steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 17 countries
