Swedish steelmaker Ovako is set to invest €9 million (approximately 100 million SEK) in its Smedjebacken steel mill.
Following previous significant investments, including a new exhaust gas filter, continuous casting machine, and a vacuum tank degassing (VTD) system, this new funding will ensure ‘continued production efficiency and modernization’, Ovako has said.
The investment includes the replacement of the 50-year-old phase compensation system with an SVC Light® cutting-edge STATCOM system from Hitachi Energy. The upgrade will ensure compliance with current industry standards for power quality and flicker levels. It is expected to deliver savings in energy and electrode consumption while also enhancing the productivity of the electric arc furnace.
''The new STATCOM system will not only meet today's stringent requirements but also enhance our productivity and reduce energy consumption.”
Nicholas Källsäter, president, business unit, SmeBox
“This investment underscores our commitment to maintaining the highest standards of efficiency and sustainability in our operations. The new STATCOM system will not only meet today's stringent requirements but also enhance our productivity and reduce energy consumption,” said Nicholas Källsäter, president, business unit, SmeBox.
“Our pioneering technology and expertise are helping customers and partners to overcome the challenges in power quality management, strengthening the grid and improving voltage support."
Anna Svensson, head of power quality solutions at Hitachi Energy
"We are pleased and proud to be trusted again by Ovako to deliver our proven advanced SVC Light® STATCOM technology that will contribute to and ensure increased stability and reliability in the steel mill production at Smedjebacken, commented Anna Svensson, head of power quality solutions at Hitachi Energy. “Our pioneering technology and expertise are helping customers and partners to overcome the challenges in power quality management, strengthening the grid and improving voltage support."
"This is a significant step towards realizing our vision of creating steel for a decarbonized society.''
Marcus Hedblom, president and CE, Ovako Group
"This is a significant step towards realizing our vision of creating steel for a decarbonized society. By modernizing the Smedjebacken steel mill with advanced technologies like the SVC Light system, we are not only enhancing our production efficiency but also reinforcing our commitment to sustainability and energy efficiency. This investment sets a robust platform for future advancements and positions us at the forefront of the steel industry's environmental responsibility, “added Marcus Hedblom, president and CE, Ovako Group.
The facility is scheduled to be operational by late 2026.