Norwegian start-up Blastr has announced plans to build a €4 billion green steel plant in southern Finland, complete with its own wind-powered green hydrogen production facility.
The project, which has the support of the Finnish government and is said to see the production of 2.5 million tonnes of high-quality green steel annually.
Blastr also explains that using wind power will further reduce its carbon footprint, seeing the project reduce carbon emissions by 95 per cent compared to conventional steel.
With the steel industry responsible for about 8 per cent of global carbon emissions, it is essential to see renewable energy and green hydrogen be used in the sector.
Mika Lintilä, Finland’s Minister of Economic Affairs, said: “I’m extremely pleased that the site location has been now confirmed, as we have worked on this project for a long time,
“Blastr’s decision to locate in Inkoo is a proof of the competitiveness of the Finnish industry and infrastructure. Finland is an excellent place for carbon-neutral industry and production of decarbonized steel: We have a strong and reliable electricity grid, good conditions for producing emission-free energy and efficient logistics.”