Under the MoU, the two companies will work together to co-create innovative models and technologies to reduce the energy consumption and emissions of steel production. ABB will bring its expertise in automation, electrification, and digitalization to the collaboration, while Tata Steel will contribute its knowledge of steel production.
Firstly, there will be a concerted effort to enhance energy efficiency within the steel production process. This will encompass a range of strategies, including the adoption of more efficient motors and drives, as well as the optimization of heat and water usage. By honing in on these aspects, the companies aim to significantly minimize the energy footprint associated with steel production.
Secondly, a pivotal goal of the collaboration is the pursuit of decarbonization in steel manufacturing. This will entail a systematic exploration of alternatives to fossil fuels, with a keen emphasis on leveraging renewable energy sources and hydrogen. By mitigating reliance on conventional energy sources, this endeavor is poised to usher in a new era of sustainable steel production.
Lastly, there will be a concentrated effort to foster circularity within the steel production process. This will be primarily achieved through a comprehensive approach to recycling, with particular focus on scrap metal. By streamlining recycling processes, the companies intend to substantially curtail the volume of waste generated during steel production.