Sweden-based steelmaker Ovako has announced that it is adopting carbon-neutral steel production from January 1, 2022.
The company has reduced its carbon emissions by 55 percent since 2015 with the use of fossil-free electricity and dedicated investments such as conversions to fossil-free hydrogen for heat treatment. Full implementation of hydrogen-fueled heating will further reduce process emissions by a total of 80 percent from the 2015 baseline.
To support its climate initiatives and new technology investments, Ovako will add a carbon surcharge on its steel from January 2022.