February 28, 2017 - SSAB's, LKAB's and Vattenfall's initiative for a carbon-dioxide-free steel industry has gained additional support from The Swedish Energy Agency. The agency passed a resolution to finance a 4-year long research project for SEK 99 million. At the same time, the three companies behind the initiative, SSAB, LKAB, and Vattenfall, have decided to form a corporate joint venture to spur on this initiative.
The research project will take a look at processes such as fossil fuel-free pellet manufacturing, hydrogen-based direct reduction, and the use of sponge iron in electric arc furnaces, along with providing an electrical power supply source for hydrogen manufacturing and storage. The research project has been allocated 99 million Swedish crowns, with The Swedish Energy Agency providing SEK 54 million of this amount and the three companies contributing the remaining SEK 45 million.
The Swedish Energy Agency previously supported the initiative with SEK 7.7 million in funding for the feasibility study. The Swedish Energy Agency's decision to provide additional funding for the initiative opens the door for the launch of a number of new research projects by organizations such as KTH, Luleå University of Technology, SWEREA MEFOS, Lund University, Stockholm Environmental Institute, and RISE, who will work toward the goal of a carbon-dioxide-free steel industry.
[h/t Swedish Energy Agency]