This investment aims to reduce energy consumption by 50 percent compared to other furnaces and lowering CO₂ emissions by 6,000-7,000 tons annually. It is considered part of Ovako's long-term strategy to cut CO₂ emissions by 80 percent from 2015 levels. Additionally, the furnace’s potential to operate on fossil-free hydrogen stands out as an innovation that could completely eliminate emissions.
Swedish Minister for Climate and the Environment, Romina Pourmokhtari, stated in her opening speech, “Ovako is a brilliant example of how industrial investments can drive both climate benefits and economic growth. With projects like the hydrogen plant in Hofors and the new furnace here in Boxholm, Sweden is strengthening its position as a leader in sustainable steel production — setting an example for the entire world.”
Marcus Hedblom, President and CEO of Ovako Group, added, “This is a big day for Ovako and the entire region. With this investment, we are taking concrete steps to reduce the climate impact of the industry and move towards more sustainable steel production. At the same time, we ensure that we can deliver high-quality steel with the lowest possible carbon footprint.”
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