Faced with being one of the largest industrial emitters of CO2 in Germany, thyssenkrupp Steel Europe AG launched the tkH2Steel project. The project was a €3 billion initiative to replace traditional coal-based blast furnaces with hydrogen-based direct reduction technology. The goal of the project was to significantly reduce emissions while spearheading the ramp-up of the hydrogen economy and green steel production. However, this transformation was taking place in a highly volatile environment. Shaped by high levels of uncertainty, the company needed to consider a broad range of influencing factors with each one being a potential dealbreaker for the tkH2Steel project.
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