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Climate Change

Japan doubles subsidy for carbon-cutting steelmaking tech

Steelmakers group to get $3bn in aid toward hydrogen reduction method

JFE Steel runs the West Japan Works in the city of Kurashiki. The company is part of a consortium developing hydrogen reduction steelmaking. (Photo by Shuhei Ochiai)

TOKYO -- Japan will grant nearly 450 billion yen ($3.04 billion) in subsidies for developing a new steelmaking process that slashes carbon dioxide emissions, the government said Friday, more than doubling the assistance previously earmarked.

The Ministry of Economy, Trade and Industry outlined the new plan during a panel meeting. The subsidies will go toward hydrogen reduction steelmaking, which is expected to cut CO2 emissions by 50% or more.

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