Cleveland-Cliffs to match $500 million DOE grant for Ohio Steel Plant upgrade
2026-08-24 11:47:06 [Print]
Cleveland-Cliffs (CLF.N) announced on Friday that it will match a $500 million grant from the U.S. Department of Energy, raising the total investment in its Middletown Works facility to $1 billion.
The move redefines the scope of the grant originally awarded to Cliffs in 2024, which was intended to decarbonize the Ohio plant. The original plan called for replacing the existing blast furnace with a hydrogen-ready direct reduced iron (DRI) plant and two electric melting furnaces. Under the revised project, these upgrades remain central, but the investment has now been expanded.
The company said the project will also include the construction of a cogeneration facility designed to capture blast furnace gas and convert it into electricity and steam for on-site use, further improving the plant's energy efficiency.
The rebuild is expected to create jobs for more than 1,500 workers, including local union building trades, and is scheduled for completion by the first quarter of 2030.
Currently, the Middletown Works plant produces approximately 3 million tons of raw steel annually, with a focus on automotive-grade steels used in exposed body panels for cars, trucks, and SUVs.
The move redefines the scope of the grant originally awarded to Cliffs in 2024, which was intended to decarbonize the Ohio plant. The original plan called for replacing the existing blast furnace with a hydrogen-ready direct reduced iron (DRI) plant and two electric melting furnaces. Under the revised project, these upgrades remain central, but the investment has now been expanded.
The company said the project will also include the construction of a cogeneration facility designed to capture blast furnace gas and convert it into electricity and steam for on-site use, further improving the plant's energy efficiency.
The rebuild is expected to create jobs for more than 1,500 workers, including local union building trades, and is scheduled for completion by the first quarter of 2030.
Currently, the Middletown Works plant produces approximately 3 million tons of raw steel annually, with a focus on automotive-grade steels used in exposed body panels for cars, trucks, and SUVs.
