Competition

Efficient energy consumption

Source: IEA, The Future of Hydrogen (2019), Cavaliere, Hydrogen Assisted Direct Reduction of Iron Oxides (2022), Minerals Research Institute of Western Australia (2023), Company Reports

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Lower cost of steel production

Incumbent “green” steel excess production costs between

23% and 96%

more than Metal Logic Steel

Source: IEA, The Future of Hydrogen (2019), Cavaliere, Hydrogen Assisted Direct Reduction of Iron Oxides (2022), Minerals Research Institute of Western Australia (2023), Company Reports; The above analysis assumes a US$130/ton DR-grade iron ore (65% Fe pellets) and US$100/ton ore for other processes)

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