Though steel is a non-renewable resource, there is a need for an alternative to reconcile the use of conventional and unconventional energy sources. The Chairman and Founder of Topworth Group and companies Abhay Lodha, believes that this transition from conventional to green steel is an important step towards a meaningful, sustainable future. Topworth Group is one of the prominent companies in the steel sector. It specializes in semi-finished and iron products; sponge iron; bloom; and structural steel.
Defining Green Steel
Steel is made from iron and is mined from the ground, but it can't be renewed, so it's a non-renewable resource. Green steel, on the other hand, is a type of steel made from recycled materials that use renewable energy to help reduce carbon emissions. It's a way to address environmental concerns and promote sustainable development. It's really important for sustainability because it helps reduce CO2 emissions from the steel industry. By using low-carbon technologies like hydrogen direct reduction and molten oxide electrolysis, green steel can help reduce climate change and open new economic possibilities for renewables and clean tech. According to Abhay Lodha of Topworth Group, the shift to green steel will bring a balance between traditional steel activities and more eco-friendly steel practices that will help reduce carbon emissions and make sure sustainability is achieved.
How Green Steel Production Takes Place?
As per latest news on research and development (R&D) green steel is manufactured through the utilization of low-carbon primary technologies, including Hydrogen Direct Reduction, Molten Oxide Electrolysis, Carbon Capture and Storage (CCS), and Electric Arc Firing (ECF), utilizing recycled scrap steel and renewable energy sources such as wind and solar. A number of these technologies necessitate substantial research and development before their commercialization.
Green Steel and The Sustainable Future
Production of green steel utilizes renewable and recycled scrap steel. While traditional steel production produces 7% of the world’s greenhouse gases, green steel production cuts down on energy consumption. Using scrap steel reduces raw material requirements and promotes sustainable development. "In green steel production, natural resources are conserved, improving air and water quality, reducing air pollution, and protecting the environment and human health through the use of renewable energy and resource conservation, considers Spokesperson Abhay Lodha of Topworth Group.
Challenges Associated with Green Steel
Green steel is confronted with several challenges, including high production costs, limited technological availability, and the need for a dependable hydrogen chain. With carbon prices ranging from $70 to $100 per tonne of CO2, the cost of producing green steel is 20 to 30% higher than that of producing conventional steel. However, renewable energy sources are becoming more cost-effective, and low-carbon processes are becoming increasingly profitable.
Conclusion
The steel industry globally is shifting its focus to producing more sustainable, low-carbon steel. The focus is on the production of "green steel" which utilizes renewable resources such as hydrogen and renewable electricity to reduce carbon emissions and build a more sustainable future. When discussing the concept of green steel, Abhay Lodha Topworth Group believes that it is a hopeful step towards a sustainable green future and thus plays an essential role in reconciling traditional steel with the development of a better future.
(Disclaimer: This is sponsored content. The liability for the article solely rests with the provider. The content has not been verified by India TV channel and IndiaTVNews.com)
