The Canadian company uses a methane pyrolysis–based process that can be used to convert natural gas into hydrogen and solid carbon. This process reduces CO₂ emissions at a lower cost, Severstal said.
 
According to a company press release, Ekona’s “fully commercialized hydrogen production plants will generate up to 100 thousand tons of hydrogen per year for under $1.5 per kilogram.”
 
“Decarbonization is crucial for the future of the steel industry. Any long-term competitive advantage is now dependent on investments in advanced steel production methods. Ekona Power’s innovative technology will help us solve the problem of reducing CO₂ emissions — not just for Severstal, but across the whole industry,” said Andrey Laptev, director of business development and corporate venture projects at Severstal. “The participation of Severstal Ventures in such a significant project once again confirms our commitment to reducing carbon dioxide emissions for our industry and combating climate change.”
 
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