The Biden-Harris administration gave a major steel producer $500 million to go green in March, but the company may have to walk away from the handout, its CEO told Politico.

The Department of Energy (DOE) announced in March that Cleveland-Cliffs was selected for receipt of half a billion dollars to help the company produce “green,” low-carbon steel. However, CEO Lourenco Goncalves told Politico that his company may have to forego the funding because buyers are seemingly not interested in paying more to buy the company’s “green” steel and because Cleveland-Cliffs still has to front more than $1 billion to convert one of its coal-powered facilities to hydrogen-powered.

“There are only two ways to fix that: One is they change their minds and pay. So far, not very successful. The other way is for me to go back to what I was before and emit more,” Goncalves told Politico, referencing buyers’ unwillingness to pay a premium for more eco-friendly steel. “That’s a decision that I’m going to have to make very soon.”