Wednesday 29 May 2024

Chuck Schmitt

SSAB selected to explore fossil-free steel making in the US

NEW YORK, March 25, 2024

SSAB has been selected for awards negotiations for up to $500 million in funding from the US Department of Energy for a potential construction of a HYBRIT manufacturing facility, capable of producing fossil free iron. The facility will use green hydrogen instead of fossil fuels. 
The project will also explore the possibility to expand capacity and capability at SSAB’s steel manufacturing operations in Montpelier, Iowa, including increased use of renewable energy.
“We are pleased to have our project selected by the DOE for negotiations to accelerate decarbonisation of the iron and steel sector. We see a great interest in sustainable products from the market and this project offers a critical opportunity to solidify a first-mover advantage for the US industry,” says Chuck Schmitt, President of SSAB Americas.
Sustainable domestic supply chain
This initiative would enable SSAB to expand its sustainable domestic supply chain for steel products and also to advance the US renewable energy transition objectives in response to the Bipartisan Infrastructure Law and the Inflation Reduction Act.
In January 2022, SSAB's Board of Directors made a policy decision to transform the production system in Sweden and Finland and make it largely carbon dioxide-free. In 2021, SSAB started to produce and deliver smaller volumes of fossil-free steel through the HYBRIT pilot plant in northern Sweden. In 2023, SSAB introduced SSAB Zero, a carbon dioxide-free steel based on recycled scrap and using fossil-free energy.--TradeArabia News Service


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