- Consortium set to launch Green iron plant in France.
- Led by Engie and Plug, the consortium plans to begin construction in 2024.
French energy giant Engie and US hydrogen technology company Plug Power Inc are set to lead other companies to establish an industrial consortium to develop the first green iron plant in France. Both companies, alongside EIT InnoEnergy, Engie New Ventures, Forvia, Groupe Idec Invest Innovation, Plug and Primetals Technologies, jointly announced the establishment of a “sustainable iron company” called GravitHy on Thursday.
The new company will build, own and operate its first green iron plant in Fos Sur Mer in southern France. The plant will be powered by green and low-carbon hydrogen and aim to produce 2 million tonnes of Direct Reduced Iron (DRI) annually. The project aims to mobilise $2.3bn in initial investment at commissioning. The project is expected to generate over 3,000 direct and indirect jobs in the region. The company plans to start construction in 2024, subject to regulatory approvals, with commissioning planned for 2027.
In the consortium, EIT InnoEnergy will provide business acceleration services, Engie will provide hydrogen and renewables capacity, Plug will provide expertise in integrated hydrogen projects, Groupe Idec will service the industrial site, and Primetals Technologies will supply technology for green and low-carbon steel production. Forvia, in turn, will represent the off-take side of the value chain.