Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 376

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 376
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 an innovation fund which invests up

to 100 annually in groundbreaking companies developing

pioneering or breakthrough technologies which will accelerate

the steel industry's transition to carbon neutral steelmaking.

Since the launch of the XCarb® innovation fund in March 2021,

ArcelorMittal has invested 200 , including 11 and 66 in 2024 and

2023, respectively, in equity instruments at FVOCI.

In 2022, ArcelorMittal delivered an additional 17.5 equity

injection in Form Energy, a company working to accelerate the

development of breakthrough low-cost energy storage

technology to enable a reliable, secure, and fully-renewable

electric grid year-round. In addition, in 2022, ArcelorMittal

invested 25 in nuclear innovation company TerraPower.

On January 26, 2023, ArcelorMittal invested 36 in Boston Metal,

which is developing and commercializing a patented Molten

Oxide Electrolysis (MOE) platform for decarbonizing primary

steelmaking and is targeting commercialization of this

technology by 2026. On June 30, 2023, ArcelorMittal completed

also a second 25 investment in TerraPower.

Unrealized (losses) recognized in other comprehensive income

were ( 13) and ( 18) for the year ended December 31, 2024 and

2023, respectively.

Stalprodukt S.A.

Stalprodukt S.A. is a leading manufacturer and exporter of

highly processed st eel products based in Poland. Unrealized

(losses) gains recognized in other comprehensive income were

( 3) and 8 for the year ended December 31, 2024 and 2023,

respectivel y.

2.6 Income (loss) from investments in associates, joint

ventures and other investments

Income (loss) from investments in associates, joint ventures and

other investments consisted of the following:

|                                                    | Year ended December 31, 
                    2024 |     |   2023 |     |  2022 |
|:---------------------------------------------------|------------------------:|:----|-------:|:----|------:|
| Share in net earnings ofequity-accounted companies |                     770 |     |  1,181 |     | 1,193 |
| Impairment charges                                 |                       — |     | -1,