In June, Fortum and SSAB announced a joint commercial feasibility study and technical FEED (front end engineering design) study to explore the possibilities of producing hydrogen-reduced fossil-free sponge iron in Raahe, Finland. In the end of October, Fortum and SSAB have jointly agreed that it is not possible to find a commercial arrangement that would work for both of parties given the existing preconditions. Therefore, the study has been concluded and no further steps will be taken at this time.
In line with its strategy, Fortum will continue to actively explore hydrogen concepts and business opportunities together with its customers and partners in the pulp and paper, chemical and transport sectors, among others. Fortum has a number of Power-to-X related studies and research projects ongoing with different companies. Power-to-X technologies allow energy to be stored and converted into different products, which is one way of decarbonising industry and transport sector.
Photo of Fortum
Press release https://is.gd/CCAd2E
