Business Finland allocates 20 million euros to support SSAB's low carbon steel production program
Business Finland has allocated 20 million euros to finance a new research and development program for steel manufacturer SSAB, which aims to transition to non-fossil fuel production and the development of low-carbon steel products. The Finnish state agency for innovation financing, Business Finland, supported the program, which was launched after SSAB was selected as one of the "pioneer companies" in a competition held in spring 2025. A five-year program called "A Sustainable World with Steel" aims to accelerate the transition of steel production to the use of fossil fuels. The program is expected to create an extensive ecosystem involving more than 200 stakeholders, including research institutes, universities, digitalization partners, technology developers, and customer companies. The total project volume, including the contribution to the development of the ecosystem, is expected to reach approximately 50 million euros. With this initiative, SSAB aims to transform the steel production model in Finland and the Scandinavian region into a more modern, efficient and sustainable structure. The company strives to develop high-strength and low-carbon steel products together with its customers, and is also preparing for the fast-growing global carbon-free steel market. Tony Harris, President of SSAB's European division, said that the funding provided is an important support in the transition to low-carbon steel production, stressing that the goal of the program is to create a value chain completely free from the use of fossil fuels. The program focuses on fossil fuel-free electric steel production technologies, sustainable supply chain optimization through digital technologies, low-emission steel applications, and the circular use of by-products in steel production. Business Finland aims to strengthen Finland's global competitiveness by supporting not only SSAB's direct research and development activities, but also the ecosystem partners' projects under the program.
Author: SteelRadar Editorial Team
Steelradar.com