Green Steel World February 2024 | Page 23

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The Swedish Energy Agency supports FerroSilva ’ s work

FerroSilva AB receives SEK 33.9 million in support for a pre-study for a plant for the production of sponge iron from ore and syngas from the gasification of biomass .
The 50,000-ton-per-year plant will be built on Ovako ’ s industrial area in Hofors , Sweden , and give Ovako access to the clean , fossilfree raw material that the production of the company ’ s advanced steel products needs .
“ The work with FerroSilva has been going on for around five years and right now we are working on developing a final design and basis for procurement ,” says the company ’ s chairman of the board Peter Samuelsson .
FerroSilva uses by-products from forestry and agriculture to produce the gas that reduces iron ore to iron , socalled sponge iron , which replaces pure scrap as a raw material in steel production
in electric arc furnaces . The collected biogenic carbon dioxide will be used by partners of FerroSilva to make , among other things , fossil-free ship fuel .
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Erdemir and İsdemir aim to achieve net zero emissions by 2050

OYAK Mining
Metallurgy companies , Erdemir and
İsdemir , have unveiled their roadmap for production with net zero emissions . Accelerating their decarbonisation efforts , Erdemir and İsdemir are targeting net zero emissions by 2050 .
OYAK General Manager Süleyman Savaş Erdem stated that they will make a transformative investment of $ 3.2 billion , primarily from foreign financing . Erdem said , “ The secret of OYAK ’ s success story lies in its ability
to lead the change . Erdemir and İsdemir , pioneers in the
iron and steel sector , have become global players thanks to OYAK ’ s power and strategic moves . They will lead the sector in our country on the green transformation journey .”
Erdemir and İsdemir , part of the OYAK Group Companies ,
have announced the Net Zero Roadmap to contribute to Türkiye ’ s 2053 net zero emission target . Shaping their green transformation steps , they aim to reduce carbon emissions per ton by 25 % by 2030 , 40 % by 2040 , and achieve net zero emissions by 2050 , compared to the base year of 2022 . Erdemir and İsdemir , Türkiye ’ s leading producers in the sector , aim to continue to play an active role in the steel sector through their green transformation compliance efforts .
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Green Steel World | Issue 10 | February 2024 23