Norway’s Blastr Green Steel has announced that its planned low-emission steel plant in Inkoo, Finland, has successfully passed the environmental impact assessment (EIA) process, moving the project into the permitting process.
Antti Kaikkonen, Blastr Green Steel’s Country Manager for Finland, said the company had worked for more than two years to obtain these assessments with a large team of experts, while advancing the project through detailed technical planning.
The plant, with a production capacity of 2.5 million tons of steel per year, will use local raw materials and carbon-free energy to produce price-competitive steel with ultra-low emissions.
The Inkoo steel plant aims to significantly reduce carbon emissions compared to conventional steel production. Instead of coal, it is planned to use pure hydrogen in the production process. Raw materials produced by clean energy will also be used.
In addition, the project is expected to have a significant positive impact on the economy and business in the region of operation, providing employment and investment opportunities.
In February this year, Blastr Green Steel successfully completed the second round of partnership financing. It was attended by the company’s three founding investors and three new investors based in Finland.
The funds will be used to develop Blastr’s value chain, including the steel plant in Inkoo, as well as to further develop the pelletizing plant, which will produce 6 million tons of DR raw materials annually.
