🇳🇴 🇫🇮 Blastr Green Steel´s steel plant project progressing in Inkoo – the environmental impact assessment procedure launched.

Press release from Blastr Green Steel.

Blastr Green Steel (Blastr) is planning a direct reduced iron (DRI-EAF) steel plant with an integrated green hydrogen production facility producing two and a half million tonnes of ultra-low CO₂ steel in Joddböle, Inkoo. The plant’s EIA programme, a plan for making the environmental impact assessment procedure and the necessary studies associated with it, is currently on public display for comments until September 19, 2023. Until then, the authorities as well as local residents, associations and other interested stakeholders can participate in the procedure by providing formal feedback to the Uusimaa Regional Development Centre (ELY Centre), acting as the coordinating authority. The EIA consultant for the project is AFRY Finland Oy.

“The preparation of the EIA programme has been a huge task, involving a wide range of experts from different fields. We have discussed the content extensively with various authorities, local organisations and other stakeholders, and taken their feedback into account in it. We are now inviting all stakeholders interested in our project to comment on the EIA programme during its public consultation”, says Antti Kaikkonen, Managing Director of Blastr Green Steel Oy.

The EIA programme forms the basis for the actual impact assessment, which is due to be completed in the spring of 2024. “Our project is progressing as planned also in other areas. Inkoo municipality is working on the zoning of our over 200-hectare site, and we have good cooperation with them and the landowners. Engineering is going forward, and the pre-feasibility studies are nearing completion. We aim to select next-phase engineering partners and suppliers for the steel plant and the hydrogen facility during the next months.” Kaikkonen continues.

In July, Blastr signed a framework agreement with Cargill, covering several areas of Blastr’s integrated value chain. Under the agreement, Cargill will, among other things, supply iron ore for Blastr´s planned pellet plant producing feedstock to the steel plant in Inkoo and be responsible for the purchase and sale of ultra-low CO₂ steel products and logistics. This integrated value chain has the potential to reduce Scope 1-3 C0₂ emissions* per tonne of steel by more than 90% compared to conventional steel production. Cargill also committed to a US$10 million equity investment in Blastr’s ongoing Series A financing round, which is expected to close towards the end of this year. The Inkoo investment, when actualized, will be approximately €4 billion and will directly employ 1,200 people and indirectly two to three times as many.

A public meeting of Blastr´s EIA programme, open to all, will be held on Tuesday, August 29, 2023, from 18-20 at the Hembygsgården in Inkoo, Urheilutie 1, 10210 Inkoo.

*Scope 1 emissions are direct emissions that a company causes by operating the things that it owns. Scope 2 emissions are indirect emissions created by the production of the energy that an organization buys. Scope 3 emissions are those indirect emissions that are not produced by the company itself but cover those produced by customers using the company´s products or those produced by suppliers making products that the company uses. (Source: World Economic Forum).

For further information, contact:
Antti Kaikkonen, Managing Director, Blastr Green Steel Oy
Tel. +358 50 453 6304
[email protected]