Image credit: Bruno van der Kraan on Unsplash

Investment in green manufacturing processes

Completely new production plants for steel will be established up in the northest part of Sweden. Companies are investing a huge amount of capital and has also been able to recruit very senior top management. The steel melting technology will be based on hydrogen, which will put the carbon footprint to an absolute minimum from the steel process. Two separate projects are already progressing.

This a great paradigm shift. Both from a technology perspective but also from an industrial perspective. It is not the traditional steel plants that are the ones in the frontline in this shift, it is a completely new industry cluster. This can be compared with what has happended in the car industry, with new players setting the standard for electric vehicles.

Cleaning up steel is key to tackling climate change. As one of the world’s dirtiest industries, it is responsible for more than 7 percent of global CO₂ emissions. By bringing emissions close to zero, we are enabling sustainable steelmaking – building a better, cleaner future for our planet.