September 6th 2023.
Tata Steel Ltd and ABB, a global leader in technology, have recently announced the signing of a Memorandum of Understanding with the aim of co-creating innovative models and technologies to reduce the carbon footprint of steel production.
ABB will bring their extensive experience in automation, electrification, and digitalization to the mining and metals industries to this venture. The two companies will focus on analyzing and evaluating Tata Steel’s current production facilities and plants in terms of energy efficiency, decarbonization, and circularity.
Vipul Gautam, Group Vice President and Global Account Executive for Tata Group at ABB, expressed that steel companies are aware of the opportunities improvement of their processes provides. He added that Tata Steel has taken the lead in this movement towards energy efficiency and reduction of carbon footprint.
In addition to this, the two companies will explore energy optimization via hydrogen as an alternative fuel, and energy reduction and substitution through the implementation of integrated electrification and digital systems, such as ABB Ability™ eMine and e-Mobility solutions, and energy-efficient motors.
The steel industry has been identified as one of the leading contributors to global fossil fuel CO₂ emissions, with figures ranging between 7 to 9 percent, according to the International Energy Agency.
In other news, Tata Power has announced that they will be providing electricity at residential rates to Ganesh pandals in the city of Mumbai. This is a part of their CSR initiative to help reduce the electricity bill of the pandals.
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