Cargill's metals business and Blastr Green Steel (Blastr) a developer of decarbonized steel supply, have agreed to work together to supply steel made without use of fossil fuels in the Nordic region to meet the growing global demand for green steel.
Under the Memorandum of Understanding (MOU), Blaster and Cargill Metals plan to combine the skills of both companies to accelerate the development of projects that enable significant carbon savings to the global steel industry.
Cargill's ambition is to develop world leading projects in the green steel supply chain through the development of initial production, and then to incrementally expand capacity based on market demand.
"Solving the decarbonization challenge of the steel industry requires new and innovative partnerships."Lee Kirk, managing director, Cargill Metals
"Solving the decarbonization challenge of the steel industry requires new and innovative partnerships," said Lee Kirk, managing director, Cargill Metals. "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."
"Ensuring the long-term supply of raw materials at required quantity and quality is crucial for providing green steel to the market.''Dag Moxnes, CEO at Blastr
"Ensuring the long-term supply of raw materials at required quantity and quality is crucial for providing green steel to the market with an absolute minimum of CO2 emissions through the entire value chain," said Dag Moxnes, CEO at Blastr. "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 next phase of the co-operation will focus on final technology selection, access to green power, location and the final mix of products. Teams from Blastr and Cargill Metals will collaborate on sustainable supply chains, technology risks and constraints, and on raising capital to finance the project development.