Finland-based stainless steel producer Outokumpu has announced that it has signed a memorandum of understanding (MoU) with Finland-based energy company Fortum to explore the decarbonization of Outokumpu’s steel manufacturing operations with emerging nuclear technology - Small Modular Reactors.
The companies will identify potential business models and technical solutions for a potential investment decision.
“Looking into emerging technologies in our energy supply, is a natural step in our ambition to reduce carbon emissions. In addition to wind, solar, and hydropower, energy intensive industries need stable and carbon-free electricity generation. Today nuclear power is the only alternative for this. Therefore, we are excited to explore the possibilities offered by small modular reactors together with Fortum, as part of our sustainability journey,” Heikki Malinen, CEO of Outokumpu, said.