Swedish steel maker SSAB has announced a joint venture with iron ore producer LKAB and utility Vattenfall. The purpose of this partnership is to develop the world’s very first fossil-free, iron ore-based steelmaking process. The by-product created when using fossil-free electricity and hydrogen, instead of coke and coal in steelmaking, is water instead of carbon dioxide.
The plan is to establish a demonstration plant at scale in 2026. The project has the potential to cut Sweden’s total carbon dioxide emissions by ten per cent.