Microsoft and ArcelorMittal Back MIT Spinout Trying to Green the Steel Industry

In a bid to make the steel industry more sustainable, Microsoft and ArcelorMittal have both backed a MIT spinout company called “Global Thermosteel”. The company is looking to revolutionize the steel industry by developing a novel green energy system that will reduce carbon emissions and energy usage.

Global Thermosteel is based in Cambridge, Massachusetts and was founded in 2021 by MIT researchers. The company has already raised a total of $3 million in seed funding from Microsoft, ArcelorMittal and other investors. Global Thermosteel plans to use the money to develop an innovative and energy-efficient steel production system that will significantly reduce the amount of carbon emitted by the steel industry.

The system is based on a process called “Thermodynamics”, which is a branch of physics that studies the transfer of heat and energy. The system works by using high-pressure steam to generate heat that can then be used in the steel-making process. This eliminates the need for burning coal in order to heat the steel, which substantially reduces the amount of carbon emissions produced.

The company’s Managing Director, Professor Steve Jones has said that the new system will enable the steel industry to “embrace a more sustainable and energy-efficient approach to steel production”. Jones believes that the system could help reduce global emissions by as much as 25 percent.

Microsoft and ArcelorMittal have both contributed to the development of the system, with Microsoft providing software and ArcelorMittal providing expertise in steel production. It is hoped that the collaboration between the two companies will help to bring the system to market quickly.

The new system is expected to be available later in 2023 and could revolutionize the steel industry by reducing the amount of carbon emissions and energy usage. The system is expected to have a positive environmental impact, as well as a positive economic impact, as it will help make steel production more efficient and cost-effective. With the backing of two major companies, Global Thermosteel is well-positioned to make major strides in greening the steel industry in the coming years.

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