Sweden-based steelmaker Ovako has announced that it will invest €9 million to modernize its Smedjebacken steel mill and make it more energy efficient.
Accordingly, following the installation of a new exhaust gas filter, a continuous casting machine and a vacuum tank degassing system, the company will now replace the 50-year-old compensator with a cutting-edge SVC Light® static synchronous compensator (STATCOM) system that will be supplied by global energy solutions provider Hitachi Energy. This new system will not only allow Ovako to achieve significant savings in its energy and electrode consumption, but also to increase the productivity of its electric arc furnace.
“This is a significant step towards realizing our vision of creating steel for a decarbonized society. By modernizing the Smedjebacken steel mill with advanced technologies like the SVC Light® system, we are not only enhancing our production efficiency but also reinforcing our commitment to sustainability and energy efficiency,” Marcus Hedblom, president and CEO of Ovako Group, commented.
The new system is scheduled to be operational after the summer of 2026.
