Direct reduced iron

Three years ago, we began with one question.

How can one of the world's most carbon-intensive industries decarbonize? Since then, we have spoken to leaders across global steel about hydrogen, DRI, electric arc furnaces, energy, investment and policy.

Today, the challenge is broader.

Decarbonization is still essential, but steel also faces geopolitical uncertainty, trade pressures, energy security, new technology and global competition.

Our guest today is Stefan Rauber, CEO of SHS, Stahl Holding Saar and Chairman of the Management Boards of Saar Stahl and Dillinger.

Stefan has been leading the two companies since 2023 at a particularly important moment for the German and European steel industry.

At the heart of their transformation is Power for Steel, a 4.6 billion euro investment program to move production in the Saarland towards lower carbon steel making using electric arc furnaces, DRI and increasingly hydrogen.

So Stefan, it's great to have you with us.