Since steel is an energy source that is not renewable, an alternative is needed to balance the use of traditional and non-conventional energy sources. The Chairman and Founder of Topworth Group and companies Abhay Lodha, sees this transition from traditional steel to green steel as a remarkable step that will address a meaningful sustainable future. He is a notable name in the steel industry, and Topworth Group specializes in the production of semi-finished steel and iron products, sponge iron, bloom, and structural steel.
Green Steel: What is It?
Steel is a non-renewable resource that's made from iron that's mined from the ground, but it's limited and can't be renewed. That's where green steel comes in. As per the latest news and research green steel is a way of making steel that uses recycled materials and renewable energy to reduce carbon emissions in the steel industry. It's all about addressing environmental concerns and promoting sustainable development. Green steel is really important for sustainable development because it helps reduce the amount of CO2 released by the steel industry. Green steel uses low-carbon technology like hydrogen direct reduction or molten oxide electrolysis to reduce CO2 emissions, which helps reduce climate change and opens up new economic opportunities for renewable energy and clean tech. Abhay Lodha, Topworth Group believes that the transition to green steel will strike a balance between conventional steel activities and more environmentally friendly steel practices that will reduce carbon emissions and assure sustainability.
How Green Steel is Produced?
Green steel is produced using low-carbon primary technologies such as hydrogen direct reduction (HDR), molten oxide electrolysis (MoE), carbon capture and storage (CCS), and electric arc furnaces (ECF) using recycled scrap steel, wind, and solar. Many of these technologies require extensive research and development before they can be commercialized.
Green Steel and Sustainability
Green steel production uses renewable and recyclable scrap steel. Traditional steel production accounts for 7% of global greenhouse gas emissions, while green steel production reduces energy consumption. The use of scrap steel reduced raw material requirements, and the promotion of sustainable development, all contribute to the preservation of natural resources in green steel production. Spokesperson Abhay Lodha of Topworth considers green steel production can improve the quality of air and water, reduce air pollution, and protect the environment, as well as human health, by using renewable energy and conserving resources.
The Challenges Within
Green steel faces some big challenges, like high costs, limited tech availability, and a reliable hydrogen supply chain. With the carbon price between $70 and $100/t CO2, it costs 20-30% more to make green steel than it does to make regular steel. But renewable energy is getting cheaper, and low-carbon processes are becoming more profitable.
Conclusion
The steel industry around the world is changing gears to make more sustainable, low-carbon steel. They're focusing on making "green steel" that uses renewable resources like hydrogen and renewable electricity. The aim is to cut down on carbon emissions and create a greener future. When discussing green steel, Abhay Lodha believes this is a promising step toward a sustainable green future. Green steel is therefore crucial in balancing traditional steel and building a better tomorrow.
Disclaimer: The above sponsored content is non-editorial and has been sourced from a third party. NDTV does not guarantee, vouch for or necessarily endorse any of the above content, nor is responsible for it in any manner whatsoever.