- Blastr Green Steel has signed a Memorandum of Understanding with INTERFER Edelstahl Group for the annual supply of 150,000 tonnes of ultra-low CO₂ steel products.
- This is the second offtake agreement in just over a month, covering 10% of the planned capacity at Blastr's green steel plant in Inkoo, Finland.
- Mark Bula, CEO of Blastr, expressed satisfaction with the expanded partnership, highlighting the demand for decarbonised steel products.
- The agreement supports the transition to a sustainable future, reflecting the necessity for new investments in Europe's steel industry.
- Blastr aims to create a low-carbon steel value chain using hydrogen instead of coal in its production process.
- The Inkoo plant is expected to produce 2.5 million tonnes of ultra-low CO₂ steel annually.
- The agreement with INTERFER will provide a long-term supply of ultra-low CO2 steel products from the Inkoo plant.
- Blastr plans to supply HRC grade steel with total embodied CO₂ emissions of less than 500 kg per tonne.
- This emission level starkly contrasts with the approximately 2,200 kg of CO2 equivalent per tonne from conventional steelmaking.
- Deliveries are set to begin by the end of 2029, with discussions for a binding agreement starting in early 2025.
- Gerold Lorenz, CEO of INTERFER Edelstahl Group, indicated that the agreement is a key step in supporting the green transition.
- The ultralow CO2 HRC grade steel will enhance INTERFER's product portfolio for their customers.
Blastr Green Steel expands INTERFER collaboration, signing low-carbon steel offtake agreement:
News provided by
Blastr Green Steel Nov 28, 2024, 08:51 ET
HELSINKI, Nov. 28, 2024 /PRNewswire/ -- Blastr Green Steel (Blastr) has signed a Memorandum of Understanding with INTERFER Edelstahl Group, a leading European steel trading company, for the annual supply of 150,000 tonnes of ultra-low CO₂ steel products. This is the second offtake agreement announced in just over a month, covering a combined 10% of the planned capacity at Blastr's green steel plant under development at Inkoo, Finland.
"INTERFER is one of Blastr's shareholders and we are very pleased to expand our partnership to also include delivery of low-carbon steel products. The agreement demonstrates continued customer demand for decarbonised steel products at a market premium reflecting the need for new investments in Europe's steel industry. It also underpins our joint commitment to enabling material climate change impact by bringing green steel to the market at scale," says Mark Bula, CEO of Blastr.
Blastr is creating a low-carbon steel value chain with lower C0₂ emissions compared to conventional steelmaking by using hydrogen instead of coal in the production process and feedstock made with clean energy. This includes the Inkoo steel plant, set to produce 2.5 million tonnes of ultra-low CO₂ steel annually and the development of a green DR pellet plant in the UK to meet growing European demand for sustainable and environmentally friendly industrial solutions.
The agreement with INTERFER covers the supply of ultra-low CO2 steel products from the Inkoo plant over a long-term period. Blastr expects to supply HRC grade steel with CO2 total embodied emissions of less than 500 kg CO2 equivalent per tonne, including Scope 1, 2 and 3. This compares to emissions of ~2,200 kg CO2 equivalent per tonne in conventional steelmaking. Deliveries are planned to start by the end of 2029. Both parties intend to start discussions on a binding agreement in the beginning of 2025.
Gerold Lorenz, CEO of INTERFER Edelstahl Group, commented: "Entering into this MoU and thus resulting in the offtake of ultra-low CO2 HRC grade steel is the next and consequential step for INTERFER Edelstahl Group, following the investment taken by our affiliate INTERFER Austria GmbH. The aim to support the green transition and build a sustainable future is the key driver for us to invest in and promote green steel. Blastr's ultralow CO2 HRC grade steel will be an excellent addition to our product portfolio, and we are looking forward to offering this high grade material to our customers."
For further information, contact:
[email protected] +358 50 465 4767
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