Industrial heavyweights such as Fortescue and ArcelorMittal are making significant investments in technologies like molten oxide electrolysis and green hydrogen for steel production. While there is excitement about these initiatives, there are concerns about the challenges associated with producing green steel without relying on hydrogen. Irina Gorbounova, the head of ArcelorMittal's XCarb Innovation Fund, discussed these topics on a panel at the FT Live Hydrogen Summit. The future of green steel will likely involve a combination of technological innovations and sustainable approaches to address environmental concerns and meet industry demands.