Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 57

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 57
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 thinking and the continuous improvement of products and processes. The Company operates 14 research sites in 9 countries around the world. In 2024, ArcelorMittal’s R&D expense was $285 million (compared to $299 million and $286 million in 2023 and 2022, respectively). In addition, the Company capitalized $29 million of research and development expenses in 2024 (compared to $26 million in 2023). In 2024, R&D launched 20 new products and solutions to accelerate sustainable lifestyles, and 26 products and solutions to support sustainable construction, infrastructure and energy generation. Among its R&D initiatives, in 2024, the Company undertook a total of 145 Life Cycle Assessment ("LCA") studies related to steel products and the processes used to produce them, all guided by the relevant standards. For Automotive segment, ArcelorMittal continuously develops its S-in motion® steel solution range, which helps in optimizing passive safety, production costs, and the carbon footprint of the Company's solutions. AHSS products are among the most affordable solutions on the market for both passengers and battery protection. In 2024, new grades of steel were marketed, particularly under the MartInsite® brand. Due to their anti- intrusion performance and fatigue resistance, these grades are particularly well-suited in terms of automotive safety standards which require high impact resistance. ArcelorMittal Multi Part Integration® (MPI) concept was developed to simplify the vehicle manufacturing process. The Company launched several new projects in 2024 for OEMs, after the initial success of MPI Door-Ring concepts in the U.S. and China with both legacy and newcomer OEMs. In 2024, the Company launched a global advertisement campaign to promote MPI "The Power of Less". The Company aims to deliver similar breakthrough advances in other sectors by creating differentiated products and unique engineering solutions. ArcelorMittal is fully involved in the development of solutions dedicated to the Global Energy Transition. The Company has developed and patented advanced steels for use in the renewable energy segment. Notably, Magnelis® long lasting coating combined with Hyper® high strength steels have become a material of choice for light weight solar mounting systems. In 2024, new lines started production in India (AMNS India) and Brazil (ArcelorMittal Vega Do Sul). Additionally, the Company is working on the development of solutions suitable for the hydrogen economy, electricity grids, carbon capture, storage & use and bioenergy. Hym