Several leading companies in Europe and Asia have reduced more than 50,000 tons of carbon emissions with Circle Green – Outokumpu to extend the offering early next year
Outokumpu Corporation
Press release
December 10, 2024 at 8:30 EET
Several leading companies in Europe and Asia have reduced more than 50,000 tons of carbon emissions with Circle Green – Outokumpu to extend the offering early next year
Outokumpu, the global leader in sustainable stainless steel, launched its spearhead solution, Outokumpu Circle Green®, to the market two years ago. Stainless steel with up to 93% lower carbon footprint compared to the global industry average* was the first innovation of its kind on a global scale with such a low carbon footprint and with a product-specific footprint calculation for every delivery. Today, more than 30 leading companies from various industry sectors in Europe and Asia are using this solution to reduce their carbon footprint. From launching the solution in May 2022 to December 2024, the total emission reduction of Circle Green used is 50,400 tons, which is equivalent to the annual emissions of nearly 7,000 EU citizens.
“Outokumpu is committed to science-based climate target aligned with Paris Agreement. Our efforts on achieving 95% recycling rate in our production, using low-emission electricity and producing our own ferrochrome underline the leadership position in sustainability. The frontrunner companies have seen the business value of offering Circle Green to their customers through their solutions. Even though the journey is still in its early phase, the volumes have multiplied year by year. We are confident that the growth will continue, and we are currently working on extending our low-emission stainless steel portfolio to be available early next year”, says Jörg Müller, Head of Sales for Stainless Europe at Outokumpu.
Outokumpu’s public reference customers for Circle Green are Fiskars, Fissler, Zwilling, Siemens, Alfa Laval, Stahl Krebs, Purem, Boysen, Klöckner, thyssenkrupp Materials Processing Europe, Lemvigh-Müller, Sermeta, Tetra Pak, Roba Metals, Schmidt Edelstahl, Meiller Aufzugstüren GmbH, Edilcam, Nordic Steel, Sverdrup Steel, OSTP, Ormazabal, Stala Tube, V-ZUG, Norder Band, Jye Chi, HH Stainless and Mori2A.
Green steel demand to surge significantly
Outokumpu evaluates that the demand for green steel is expected to surge significantly within the next years, but the pace for accelerating the global green transition should be faster to reduce the climate impact of the industry. Several factors are driving the demand: increasing focus on sustainability, stricter environmental regulations, i.e. carbon pricing, innovations in green steel production, and growing interest in low-emission solutions in certain industry sectors due to ambitious climate targets. For stainless steel, these sectors are especially automotive, heavy industry, energy and consumer goods.
“Challenges still remain in scaling up green steel production, such as the high initial investment costs, the availability of renewable energy sources, and the sufficiency of recycled steel as raw material. We are eager to further develop the demand for green steel together with our stakeholders”, Müller concludes.
*) Global average CO₂ emissions (2023): 7 kg CO₂e per kg of stainless steel (Outokumpu’s calculation based on data provided by CRU, worldstainless and Kobolde & Partners AB). Outokumpu Circle Green CO₂ emissions: down to 0.5 kilos of CO₂e per kg of stainless steel.
Read more: Circle Green stainless steel | Green steel industrial evolution | Outokumpu
For more information:
Outokumpu media desk, tel. +358 40 351 9840, email media(at)outokumpu.com
Outokumpu Corporation
Outokumpu is accelerating the green transition as the global leader in sustainable stainless steel. Our business is based on the circular economy: our products are made from 95% recycled materials, which we then turn into fully recyclable stainless steel. This steel is utilized in various applications across society, including infrastructure, mobility, and household appliances. We are committed to 1.5°C target to mitigate climate change, and with up to 75% lower carbon footprint than the industry average, we support our customers to reduce their emissions. Together, we are working towards a world that lasts forever. Outokumpu Corporation employs approximately 8,500 professionals in close to 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. Read more: www.outokumpu.com
