The steel is produced from 97% recycled steel in Ovako´s Hofors mill and manufactured in SKF’s net zero factory in Gothenburg, Sweden.

As an illustration of the companies’ collaboration, the bearing has already been installed in a crane at the Hofors mill, where it is one of hundreds of connected bearings that enable smoother operations and less unplanned downtime.

Our partnership shows a great example of how collaborations can speed up the transition to a sustainable society. Ovako has carbon neutral operations in all its mills as a result of 97% recycled content, fossil-free electricity, process improvements and investments such as the coming hydrogen initiative in Hofors as well as counterbalancing the remaining emissions with carbon offsets. SKF´s factory in Gothenburg is the third SKF factory to achieve net zero status, part of the SKF´s Group ambitions to achieve net zero emissions across all its operations by 2030. This collaboration has produced a bearing with 90% lower carbon emission than a standard one.

Marcus Hedblom, President and CEO of Ovako, says: “Throughout Ovako´s and SKF's long history of collaboration, we have successfully developed sustainable steel products for many decades. Now, with this significant milestone, the journey continues towards net zero bearing production using steel from 100% carbon-neutral production.”

Rickard Gustafson, President and CEO of SKF, says: “The industry’s journey towards net zero bearing production is accelerating and this milestone illustrates both our leading position and the importance of collaboration. Ovako and SKF have a long history together and this is yet another tangible example of how we are working towards more circular industrial development.”

About Ovako Ovako develops clean, high quality engineering steel for customers in the bearing, transport, and manufacturing industries. Our steel enables products that are lightweight, resilient and climate smart. Our sustainability ambition is high. Our production is carbon neutral since January 2022 and is based on recycled steel and fossil-free electricity. Ovako has around 2,900 employees in more than 30 countries and sales of approximately EUR 1000 million. We are a subsidiary of Sanyo Special Steel and a member of Nippon Steel Corporation, one of the largest steel producers in the world. For more information, please visit us at, and