{"id":81219,"date":"2023-12-13T00:00:00","date_gmt":"2023-12-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/12\/13\/ad-ports-uks-liberty-steel-ink-mou-to-decarbonize-steel-and-iron-production\/"},"modified":"2023-12-13T00:00:00","modified_gmt":"2023-12-13T00:00:00","slug":"ad-ports-uks-liberty-steel-ink-mou-to-decarbonize-steel-and-iron-production","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/12\/13\/ad-ports-uks-liberty-steel-ink-mou-to-decarbonize-steel-and-iron-production\/","title":{"rendered":"AD Ports + UK\u2019s Liberty Steel ink MoU to decarbonize steel and iron production"},"content":{"rendered":"

GREEN STEEL-<\/strong><\/p>\n

British steel maker eyes Khalifa port for steel exports to Europe: <\/strong>AD Ports Group and Liberty Steel<\/a>, the steelmaking arm of UK-based investor GFG Alliance<\/a>, have inked an MoU to explore plans to set up a green iron production facility in AD Ports subsidiary Khalifa Economic Zones Abu Dhabi (Kezad)<\/a>, along with accompanying port infrastructure and a conveyer belt in Khalifa Port, according to a statement<\/a>. The plans help push exports to Europe, as well as boost the UAE\u2019s magnetite ore imports from Australia, it adds. <\/p>\n

The details:<\/strong> The facility will intake magnetite ore from Australia, leveraging Liberty\u2019s access to some 4 bn tons of Australia\u2019s high quality magnetite ore, and convert it into green iron using gas, before transitioning to green hydrogen when it\u2019s available at scale by 2031, the statement said. The iron will be reexported to external markets, including Liberty\u2019s facilities in Romania, the Czech Republic, Hungary, Poland and the UK. <\/p>\n

RENEWABLES-<\/strong><\/p>\n

More solar and wind projects for Egypt?<\/strong> Egypt\u2019s New and Renewable Energy Authority (NREA) will study a total of 26.6k square kilometers in three areas across the country for potential solar and wind energy projects in the future, Al Arabiya<\/a> reports, citing government sources it says have knowledge of the matter. The studies will kick off in January and be funded by the World Bank and GIZ.<\/p>\n

CLIMATE FINANCE-<\/strong><\/p>\n

A new MENA accelerator in town: <\/strong>KSA\u2019s leading petrochemical company Sabic, UAE\u2019s AstroLabs<\/a>, PepsiCo and other strategic partners will launch the Mega Green Accelerator to support climate-focused regional startups, according to a statement<\/a>. The accelerator will provide seed funding, mentorship, and address regional sustainability challenges with investment partners the Dubai Future District Fund, Venture Souq, and Shurooq Partners. <\/p>\n

Who else is involved?<\/strong> Ecosystem partners include the London Business School Entrepreneurship Club, Berytech, the American University of Cairo Venture Lab, the Sharjah Research Technology and Innovation Park, and the Mohammed VI Foundation for Environmental Protection. France\u2019s Schneider Electric will serve as a prize partner, participating in the final selection of participants. <\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n