Blastr Green Steel is planning a green steel plant with an integrated hydrogen production facility in Inkoo, Finland. Blastr has entered into a Letter of Intent with the Nordic energy company Fortum that provides Blastr exclusive rights to use an existing industrial site located in Inkoo, 55 km west of Helsinki. The four-billion-euro investment is expected to create up to 1,200 direct jobs during the operations phase. Production is scheduled to start by the end of 2026. The steel plant is expected to produce 2.5 million tons of high-quality hot- and cold-rolled green steel annually.
The steel industry produces about 8 % of the world’s CO₂ emissions due to the high amount of fossil fuels used to manufacture steel through conventional methods. Currently, one ton of steel produced creates about 1.9 tonnes of CO₂. Blastr will replace coke and coal with hydrogen in the chemical reduction phase, as well as reduce the CO₂ footprint along the entire value chain, to achieve 95 % lower CO₂ emissions, compared to the conventional manufacturing process.
Inkoo was selected due to its high-quality infrastructure and access to clean power. In addition, the ice-free deep-sea harbor enables efficient, low-carbon logistics all year round and close access to the European market. The green steel plant together with the integrated hydrogen facility will be among the largest industrial investments planned in Finland to date. Blastr’s project is significant also for the entire European industry as an enabler of the green transition. In Europe alone, the demand for decarbonized steel is expected to reach 50 million tons by 2030, a figure representing nearly one-third of the current total European demand for steel.
- Blastr Green Steel (Blastr), Lysaker, Norway
- Fortum, Espoo, Finland
