Kuusakoski invests in first carbon free steel recycling plant
Press release 22nd March 2023 at 09:00 EET
Espoo, Finland
Recycling pioneer Kuusakoski plans to invest 25M€ in building a steel recycling plant that will operate 100% carbon free. The plant will be located in Veitsiluoto, a well-known industrial site located in the Northern Gulf of Bothnia, Finland.
Kuusakoski, a forerunner of the green transition, is going to build a market first steel recycling plant that will operate 100% carbon free and utilise the latest technology. The investment responds to growing demand for recycled metals in Finland and Sweden, and it will increase the annual recycling capacity of Kuusakoski by 150 000 tonnes, or 25 %.
The new plant will be built in Veitsiluoto, Kemi. The port connection effectively links sea freight to rail and road transport.
“In Veitsiluoto we are close to our largest end customers, and can offer superior, smart delivery models and competitive delivery times”, says Mikko Kuusilehto, President and CEO.
“We are seeing the steel industry beginning to move towards carbon free production. Our new plant will bring with it carbon free processing, which will enable our customers to further reduce their climate impact throughout the value chain.”
Investment supports carbon neutrality goals of the steel industry
With the investment, Kuusakoski's customers, such as Outokumpu, the global leader of sustainable stainless steel, will have the opportunity to use even more precise carbon footprint calculations and cleaner recycled steel in their production, which can further reduce the carbon footprint of steel products.
"Outokumpu is committed to ambitious climate goals and we already use mainly recycled steel in our production. Kuusakoski's new steel recycling plant is being built in a logistically ideal location from the perspective of our Tornio steel mill. In addition to carbon-free operations and their proximity, the quality of materials and the traceability of the entire supply chain are key to us as a responsible operator," says Juha Erkkilä, Vice President, Group Sustainability, Outokumpu.
Unique project ready in 2025
The new plant will produce significantly higher levels of purity in its recycled raw materials and it will have improved separation capabilities. This is possible because of new technology used in the pre-treatment and analysis of the material. The unique pre-treatment technology, for example, has been developed together with leading experts and there is no similar setup being used anywhere else.
The total value of the investment is 25M€ of which 2.8M€ will be financed by Business Finland from RRF (Recovery and Resilience Facility) funding. The building of the plant is planned to begin next year. The new plant is scheduled to be in operation in 2025 and once in operation it will employ approximately 20 people.
The carbon free steel recycling plant is part of Kuusakoski´s multi-year green investment program. Kuusakoski has set a target of carbon free operations by 2035. The Veitsiluoto recycling plant is just one concrete step on the company’s carbon roadmap. The investment is projected to result in over 150 000 tonnes of avoided CO2 emissions annually throughout the entire supply chain.
Read more about the investment program at: https://news.cision.com/kuusakoski-recycling/r/green-investment-program-planned-at-kuusakoski,c3640600
More information
Chief Sustainability Officer Tuomas Haikka tel. +358 40 7494 218, tuomas.haikka@kuusakoski.com.
Images* can be found at: https://kuusakoski.frontify.com/share/F6A8xH5LsaY1GzwdAB3V
*Free to use in journalistic work, please mention source: Kuusakoski Recycling when using.
Kuusakoski is Northern Europe's leading recycling services company. The company’s vision is to be the preferred partner for our customers through excellence in recycling and sustainability. Kuusakoski´s strength is based on competence with materials, recycling, and environmental technology. In addition to metal recycling, the company recycles electrical and electronic equipment and manufactures high quality solid recovered fuel of energy-containing waste that is unsuitable for recycling. Kuusakoski Group's turnover in 2021 was EUR 717,6 million and it employed some 1 800 people. The company was established in 1914. Read more at www.kuusakoski.com
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