"Denis Hennessy, Stegra's vice president, emphasized their unique positioning in the industry: 'We're in a very unique position to do some things first in the industry.'"
"CEO Henrik Henriksson stated that their access to cheap renewable energy gives them a significant cost advantage, stating, 'That gives us a relatively huge cost advantage.'"
Stegra, a startup steelmaker in Sweden, is building a new mill that will utilize technology to greatly reduce CO2 emissions by 95% compared to traditional methods. Key to their process is using hydrogen gas to remove oxygen from iron ore, a change from the carbon-heavy blast furnace method. This innovative approach, combined with access to cheap renewable energy, positions Stegra favorably in the market, allowing them to potentially charge a premium for their 'green' steel despite higher initial costs compared to traditional steel production.
Read at www.thelocal.se
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