Thyssenkrupp Materials Trading has signed a 100% purchase agreement with Progressive Green Solutions (PGS) for the first large-scale environmentally friendly steel production project to be implemented in Geraldton, in the Midwest region of Western Australia.
The agreement highlights that the renewable energy potential of Western Australia can directly contribute to the achievement of German and European Union decarbonization goals and potentially set a global standard for environmentally friendly hydrogen-based industrial projects. In this context, it is expected that in the long term, a new high-value-added manufacturing industry will develop in the region, as well as German technology and expertise on a global scale.
The project will deepen trade relations between Australia, Germany and the EU, as well as increase the diversity of demand and supply chain. Thyssenkrupp, technology providers SMS Group, Midrex, Thyssenkrupp Nucera and financial partner KfW IPEX Bank are participating in the initiative, supported by the Prime Minister of Western Australia Roger Cook and his government.
The Minister of Mines, Petroleum and Finance of Western Australia, David Michael, Parliamentary Secretary David Scaife and Jeff Baker, a member of the Friends of Clean Energy and Climate action group, welcomed the German delegation to the Washington State Parliament Building and expressed their support.
As the leaders of the European Union emphasized, "now is not the time for talking, but for action" in order to achieve the climate change goal. The project aims to overcome criticism of "greenwashing" and marks a turning point in the export of truly environmentally friendly steel.
steelradar.com
