From Concept to Commitment – Iron and Steel Producers Answer the Call for Near-Zero Steel

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RMI's Sustainable Steel Buyers Platform (SSBP) conducted its first North American request for proposal (RFP), aggregating demand from nine buyers seeking over one million tons of near-zero emission (NZE) steel. The process yielded 13 commercial-scale project proposals targeting production by the early 2030s, featuring a mix of hydrogen-based direct reduced iron (DRI), novel ironmaking pathways (electrochemical, bio-based, and sodium-based), and electric arc furnace (EAF) retrofits. The findings highlight that binding multi-year, take-or-pay agreements and 'book and claim' mechanisms are critical for project bankability and linking buyer premiums to first-of-a-kind projects.

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  • The first North American RFP by the Sustainable Steel Buyers Platform (SSBP) aggregated demand from nine buyers seeking more than one million tons of near-zero emission steel, primarily for use in renewable energy development, commercial and industrial equipment, and North American data centers.
  • The RFP generated 13 commercial-scale project proposals aiming for delivery in the early 2030s. These include greenfield sites for hydrogen-based direct reduced iron (DRI), novel ironmaking processes such as sodium-based, bio-based, and electrochemical pathways, and fuel-switching retrofits for scrap-based electric arc furnaces (EAF).
  • Project bankability for first-mover suppliers depends on securing binding multi-year, take-or-pay agreements to hedge against volatile energy prices and uncertain policy support. Additionally, the 'book and claim' model—which decouples emissions attributes from the physical product—is emerging as a vital tool to link buyer premiums to first-of-a-kind projects.
  • Different technology pathways face distinct barriers: hydrogen-based DRI projects require affordable, large-scale renewable electricity and transmission; novel small-scale ironmakers struggle with manufacturing capacity and supply chain development; and brownfield EAF investments are dependent on the price and supply of hydrogen and low-carbon heating.

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APA
RMI (2025). From Concept to Commitment – Iron and Steel Producers Answer the Call for Near-Zero Steel. https://rmi.org/resources/from-concept-to-commitment-iron-and-steel-producers-answer-the-call-for-near-zero-steel/
Chicago
RMI. From Concept to Commitment – Iron and Steel Producers Answer the Call for Near-Zero Steel. 2025. https://rmi.org/resources/from-concept-to-commitment-iron-and-steel-producers-answer-the-call-for-near-zero-steel/.
Wikipedia
{{cite report |author=RMI |title=From Concept to Commitment – Iron and Steel Producers Answer the Call for Near-Zero Steel |date=18 December 2025 |url=https://rmi.org/resources/from-concept-to-commitment-iron-and-steel-producers-answer-the-call-for-near-zero-steel/ |access-date=17 August 2026 |via=Climate Insights Directory}}
BibTeX
@techreport{rmi2025from, author = {{RMI}}, title = {{From Concept to Commitment – Iron and Steel Producers Answer the Call for Near-Zero Steel}}, institution = {RMI}, year = {2025}, month = dec, url = {https://rmi.org/resources/from-concept-to-commitment-iron-and-steel-producers-answer-the-call-for-near-zero-steel/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }

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