Finland-based stainless steel producer Outokumpu has announced that it has concluded the feasibility study on a nuclear project aimed at increasing low-carbon energy availability and that it is now looking for third-party investors.
Accordingly, the feasibility study explored the option to build a small modular reactor (SMR) near the company’s stainless steel plant in Tornio, finding no obstacles for the project’s implementation. In the meantime, it demonstrates that the Tornio region is advantageous in terms of a potential SMR project due to the availability of sea cooling water.
Therefore, Outokumpu is seeking partners to hand over its SMR project for further development, which will allow the company to further decarbonize its operations.