XCarb® innovation fund Overview

Launched in March 2021, the XCarb® Innovation Fund is part of ArcelorMittal's broader XCarb® sustainability initiative aimed at achieving carbon-neutral steel production. The fund targets investments in companies developing commercially scalable technologies that can significantly reduce carbon emissions in steelmaking. It focuses on seven key technology domains: disruption in steelmaking processes, waste-to-gas or biocarbon, gas reforming/transformation, disruptive hydrogen technologies, carbon capture, utilization and storage, long-duration large-scale energy storage, and clean energy technologies. The fund has committed to investments totaling $197.5 million across multiple companies, including Heliogen, Form Energy, LanzaTech, H2Pro, TerraPower, and Boston Metal. Additionally, ArcelorMittal is an anchor partner in Breakthrough Energy's Catalyst program, committing $100 million over five years to accelerate the adoption of next-generation clean technologies.

Is XCarb® innovation fund the right investor for your startup? Browse their investment focus, stage preferences, and geographic scope to see how well they align with your fundraising goals. Your full match score with XCarb® innovation fund, along with a list of other relevant VCs, is available on Hopohopo.io.