Swedish specialty steel producer SSAB has announced that it has inked a deal with energy systems supplier CorPower Ocean to explore the possibility of building the world’s first wave energy power plant using fossil-free steel.
CorPower Ocean will build a wave energy system with the fossil-free steel provided by SSAB that will cause significantly lower carbon emissions. Both parties aim to integrate the fossil-free steel in CorPower Ocean’s commercial products starting from 2026.
Manufacturing products that benefit from ocean waves to generate clean energy, CorPower Ocen has recently deployed its first commercial device off the coast of northern Portugal.
SSAB plans to release the fossil-free steel to the market in 2026 and to largely lower carbon emissions from its operations in around 2030.