Start watching at 6:27. This steel production process releases 97% less CO2 emissions than current methods, by using hydrogen gas rather than coke (from coal) to reduce the iron ore (essentially, de-rusting it) during the first phase of steel production.
And, as he mentions at 8:26, generating that hydrogen from electricity can be done at non-peak-demand hours at night, for grid-balancing (i.e. keeping electric power generation at optimum outputs around the clock rather than revving them up and winding them down as demand fluctuates.) The stored hydrogen can then be used as needed when steel production is active.
At 9:05, he mentions that the initial €150M trial project will be scaled up 200-fold larger if successful.
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