Article

RMI's Sustainable Steel Buyers Platform (SSBP) launched in 2023 aims to facilitate the transition to near-zero emission (NZE) steel by aggregating demand from nine buyers seeking over one million tons of NZE steel. The first request for proposal (RFP) for the North American market is nearing completion, attracting 13 project proposals focused on ironmaking technologies and capital-intensive interventions in steelmaking.

Bidders include legacy steelmakers, startups, and large energy operators, indicating readiness to serve rising demand. Projects leverage various innovative ironmaking pathways, including hydrogen-based direct reduced iron (DRI) technologies, with production timelines aimed for the early 2030s.

SSBP encourages collaboration between buyers and suppliers, integrating models like book and claim for financing, while addressing emissions standards to enhance market transparency. Despite challenges, suppliers are advancing efforts to meet NZE steel demand amidst policy and market complexities.