We recently started an ambitious initiative towards achieving carbon neutrality across all Ovako’s operations with the concept to heat steel with fossil-free hydrogen, supported by several industrial partners as well as the Swedish Energy Agency. Our full-scale trials were successful, and we are convinced that the first full production installation will further prove the viability of the concept. Currently, through other initiatives, we have reduced our CO2 emissions by 55 % from our 2015 baseline and full implementation of hydrogen-fueled heating will enable us to further reduce our process emissions by a total of 80 % from our 2015 baseline – that is, an additional 50 % from their already low levels.
Our hydrogen investments to tackle climate change, complemented by several other actions, will be implemented just as quickly as they can be financed in order to achieve operational carbon neutrality. However, the climate situation is so urgent that the world cannot wait for operational improvements on their own. That is why, effective January 1, 2022, we have decided that Ovako will sell products based solely on carbon-neutral steel production.
Read more about the path to carbon-neutrality in the linked document.