Voestalpine to Invest 1.5 Billion Euros in CO2-Reduced Steel Production

Voestalpine AG, an Austrian steel producer, has announced its plan to invest €1.5 billion to construct two electric arc furnaces (EAF) at its Linz and Donawitz sites, with the aim of achieving climate-friendly steel production. The decision to replace two blast furnaces with EAFs will reduce the company’s CO2 emissions by up to 30% from 2027. The implementation of the plan is dependent on resolving funding issues in Austria and ensuring the availability of competitively priced green electricity. Voestalpine is also exploring new processes and investing in pilot projects to reach its goal of CO2 neutrality by 2050, including the H2FUTURE hydrogen pilot facility and CO2-neutral steel production using hydrogen plasma. Having a reliable supply of raw materials such as scrap and hot briquetted iron is a significant competitive edge for the company.

resource: https://esgnews.com/voestalpine-to-invest-1-5-billion-euros-in-co2-reduced-steel-production/


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