ArcelorMittal's XCarb™ innovation fund will invest in companies developing breakthrough technologies that will accelerate the steel industry’s transition to carbon neutral steelmaking.
Technological breakthroughs are imperative in society's decarbonization journey. It is critically important that we continue to innovate, and the XCarb™ innovation fund is an attempt to accelerate this process.
The XCarb™ innovation fund is supplementary to the numerous technologies we are already developing and deploying across our operations. It serves as a point of access to the best and brightest ideas and companies developing solutions to decarbonize steelmaking.
ArcelorMittal's XCarb™ innovation fund will invest in companies developing breakthrough technologies that will accelerate the steel industry’s transition to carbon neutral steelmaking.
Further information for interested companies can be found below.
The fund's investment committee will be chaired by Aditya Mittal, ArcelorMittal’s Chief Executive.
The committee will be comprised of senior executive management members from functions and segments across the Company’s global operations.
Interested companies must be developing a technology which is directly applicable, and holds strong potential to decarbonize, steelmaking. The technology must also be commercially scalable. There are no geographic restrictions – we are looking to invest in the best and brightest companies and ideas on the market.
There is no limit of the number of companies we can hold in the portfolio. This will depend on the quality of opportunities which come under consideration. Moreover, there is no set limit on the monetary figure of individual investments. Each potential investment opportunity will be assessed on its own merits. We are however looking to build a diversified portfolio of companies and technologies as we feel there is no one technology answer to decarbonizing steelmaking.