The HYBRIT process is in an advanced state of development in Sweden and uses green hydrogen instead of coal. Enough hydrogen has to be stored to keep the process going during lulls in the supply of renewable energy and the cost of storage will be a significant contribution to the cost of the process.
Using tidal energy to generate hydrogen would be particularly elegant as only enough hydrogen has to be stored to keep going for the predictable few hours when the tide turns. This hydrogen could be stored at low cost in undersea “bells”.
The hydrogen would be generated close to the turbines simplifying the need for electrical transmission.
The UK is noted for opportunities in tidal power, so “Green” steel should give the UK a distinct market advantage for export to countries serious about reducing their carbon footprint.
Note that hydrolosis produces oxygen as well as hydrogen and is needed in quantity for the purification of steel.