Swiss Steel Group to supply low-carbon steel to SKF

“GreenSteel Climate+” is produced from steel scrap and in electric arc furnaces using green electricity from renewable sources.

The steel sourced from Swiss Steel Group has already been used directly to produce components across SKF’s European plants as well as by the Group’s suppliers. Use of the “GreenSteel Climate+” compared to ordinary produced steel has reduced SKF’s CO₂ emissions related to steel bars and wire by 40% over a period of nine months, the company has claimed.

"SKF is committed to decarbonizing our operations by 2030 and achieving net-zero emissions across our supply chain by 2050. The significant CO₂ reduction from using Green Steel Climate+ products within a year is very encouraging and a step forward in achieving these goals. We will now focus on looking on how we can apply these lessons to our broader business", said Magnus Rosen, head of sustainability at SKF.

‘‘This agreement with a significant partner like SKF marks a major milestone for Swiss Steel Group in advancing sustainable supply chains. Steel plays a key role in the decarbonization of end products, and our expertise in recycling, circular economy, and electric arc furnace technology enables us to produce crude steel with up to 83% lower CO2 emissions than the industry average.” added Frank Koch, CEO of Swiss Steel Group.

SKF has committed to decarbonize all its operations by 2030 and to have a supply chain with net zero greenhouse gas emissions by 2050.