Revolutionizing the steel industry
with ultra-low CO₂ steel
Blastr Green Steel’s main business areas are a pellet plant for producing direct reduction pellets, and a steel plant with integrated production of hydrogen and ultra-low CO₂ steel. Blastr’s pelletizing plant will secure the supply of direct reduction pellet, a critical feedstock for the steel plant.
We will utilize the latest technologies and processes to ensure that the steel and pellet plants will be both energy-efficient and environmentally friendly.
The steel plant will produce high-grade ultra-low CO₂ steel products for segments like the automotive and construction industries.
Blastr’s integrated steel value chain will help our customers significantly reduce their carbon footprint and meet their CO₂ reduction targets.
Blastr Green Steel plans to invest in an iron ore pellet plant to supply its steel plant in Inkoo, Finland, as well as a significant and growing world market for direct reduction pellets.
The planned location for the pelletizing plant is in Gildeskål municipality in Northern Norway. The location is beneficial due to access to fossil-free energy as well as deep, ice-free harbor with good access to the seaborne iron ore market and efficient shipping of pellets.
The planned facility in Gildeskål will convert iron ore pellet feed into high-quality direct reduction (DR) pellets, which are used as raw material for low CO₂ steel production. Part of the volume will be sold on the growing world market for DR pellets.
The plant will produce 6 million tonnes of DR pellets and provide approximately 120 jobs when operational, in addition to significant indirect employment opportunities and economic effects for the municipality and the region.
A final investment decision is expected in 2025, subject to relevant permits and agreements. The plant is planned to start production in 2027-2028.
Opportunities for local business
Blastr Green Steel is planning to establish a state-of-the-art low CO₂ steel plant in Inkoo, Finland. The plant will include an integrated hydrogen production facility to produce hydrogen with fossil-free energy for the steel production process. Blastr will produce 2.5 million tonnes of high-quality flat steel annually when in full production, with ~90 percent lower CO₂ emissions than conventional steel production.
The company has entered an exclusive partnership with Nordic energy company Fortum to utilize an existing industrial site located in Joddböle, Inkoo.
The Inkoo site offers an ideal location on the southwestern coastline of Finland, with a strong grid connection meeting Blastr’s energy needs. The site has a deep, ice-free harbor, enabling efficient, low-carbon logistics for inbound volumes of direct reduction pellets and other raw materials, such as recycled scrap, all year round. Furthermore, the location provides short access to the attractive and growing European market for Blastr’s finished ultra-low CO₂ steel products. And, Inkoo’s proximity to the Helsinki region, strong transport connections, and the area’s industrial history make it ideal for attracting skilled employees. When in operation, the steel plant and the integrated hydrogen production facility will provide approximately 1,200 direct and 2,000-3,000 indirect jobs with opportunities for business development.
Zoning of the Inkoo site, the Environmental Impact Assessment, and a pre-feasibility study are currently ongoing. The project will move into the feasibility study and permitting phase in 2024, and the final permits and investment decision are planned for 2025. The production is planned to start commissioning in 2027, with ramp-up of the integrated value chain to full capacity during 2028-2030.