Under a Memorandum of Understanding (MOU), Blastr could deliver green hydrogen-derived steel from its plant currently under development in Inkoo, Finland. The two parties plan to start discussions on a binding agreement early next year (2025).
The Inkoo steel plant, which is expected to produce 2.5 million tonnes of ultra-low CO2 steel annually once fully operational, will support Interfer’s goal to invest in and promote green steel, according to CEO Gerold Lorenz.
“Entering into this MoU and thus resulting in the offtake of ultra-low CO2 hot-rolled coil-grade steel is the next and consequential step for Interfer Edelstahl Group, following the investment taken by our affiliate INTERFER Austria GmbH,” he said.
“Blastr’s steel will be an excellent addition to our product portfolio, and we are looking forward to offering this high-grade material to our customers.”
H2 View understands that Blastr’s plant will produce hot-rolled coil-grade steel with CO2 total embodied emissions of less than 500kg CO2e per tonne, which compares to 2,200kg CO2e per tonne in conventional steelmaking.
Mark Bula, CEO of Blastr, claimed the agreement “demonstrates continued customer demand for decarbonised steel product at a market premium reflecting the need for new investments in Europe’s steel industry.”
The CEO continued, “It also underpins our joint commitment to enabling material climate change impact by bringing green steel to the market at scale.”
Last month, Blastr announced a similar partnership with metals processing firm Knauf Interfer. The two said they would explore the potential of supplying 100,000 tonnes of hydrogen-based steel per year to Central Europe.
Together, the two plan to develop a green steel supply network, centred around Knauf Interfer’s hub in Duisburg, Germany.
