The steel industry, a major contributor to global carbon emissions, is undergoing a transformation with the development of green hydrogen technology by researchers at IIT Bombay. By utilizing sustainable catalysts, the team aims to implement hydrogen-based direct reduction of iron (H-DRI) as a cleaner alternative to the traditional coal-reliant steel production process. Green hydrogen, produced through water electrolysis powered by renewable energy sources, offers a solution to mitigate CO2 emissions. The focus on cobalt-based catalysts like cobaloximes presents a cost-effective and stable option for industrial-scale hydrogen production. Researchers are enhancing the catalysts' performance in various conditions, including seawater, to facilitate widespread adoption. Leveraging multi-stack electrolyzers, the efficiency of hydrogen production can be significantly increased, reducing CO2 emissions by 30–50%. Combining this hydrogen-focused approach with electric arc furnaces, powered by renewables, shows promise in achieving near carbon-neutral steelmaking. Furthermore, incorporating CCUS strategies can enhance emission reduction by capturing and utilizing residual CO2. This innovative approach not only contributes to decarbonizing the steel industry but also promotes sustainability and a circular economy through the reuse of captured CO2.