A
Memorandum of Understanding (MoU) was signed with decarbonized steel developer
Blastr Green Steel AS to jointly produce fossil fuel-free steel.
American firm Cargill announced Monday that its metals
business signed a Memorandum of Understanding (MoU) with decarbonized steel
developer Blastr Green Steel AS to jointly produce fossil fuel-free steel in
the Nordic region to meet increasing demand for green steel.
“Solving the decarbonization challenge of the steel industry
requires new and innovative partnerships,” Lee Kirk, managing director for
Cargill Metals, said in a release. “We are thrilled to partner with Blastr and
collaborate on bringing meaningful carbon reduction to this vital to abate
sector. It brings us one step closer to our goal of shaping a responsible and
sustainable ferrous supply chain that helps the world thrive.”
Cargill Metals will offer its resources in ocean transportation and logistics,
risk management, financing facilities, and expertise in developing green
products, while Blastr will contribute its experience in industrial
decarbonization, entrepreneurship, and access to capital within CO2 abatement
and green energy.
“Ensuring the long-term supply of raw materials at required
quantity is crucial for providing green steel to the market with an absolute
minimum of CO2 emissions through the entire value chain,” said Blastr’s CEO Dag
Moxnes in a statement. “Cargill offers a unique combination of access to
regional raw materials, expertise, network and logistics solutions, which
brings us a long step closer to realizing our joint Nordic green steel project.”
The companies are making final decisions on technology, access to
green power, location, and the final mix of products in the next phase of the
cooperation.