Swedish specialty steel producer SSAB and Finland-based energy company Fortum have ended a study launched in June to explore the possibilities of producing fossil-free sponge iron in Raahe, Finland, as the two parties agree that it is not possible to find a commercial arrangement that would work for both of them given the existing preconditions, according to SSAB’s statement.
The study was scheduled to be completed in the first quarter of 2024, as SteelOrbis previously reported.
SSAB’s production is expected to be largely fossil-free around 2030. A new mini-mill-based production system will be built in Raahe. A decision on the order of investments in Raahe is expected next year.
Meanwhile, SSAB is continuing to work on the green transition of its Nordic strip production according to plan, and the conclusion of the study with Fortum will not affect this.
