Blastr plans €4bn Finnish green steel plant

Norwegian startup aims to begin production by 2026

Norwegian startup Blastr has announced plans to build a €4bn ($4.24bn) green steel and integrated hydrogen production facility in Finland. Blastr plans to replace coke and coal with hydrogen in the chemical reduction phase, in addition to reducing emissions throughout the value chain, with a target of 95pc lower CO₂ emissions compared with conventional steel manufacturing. The firm plans to produce 2.5mn t/yr of hot- and cold-rolled green steel at the plant, with first production in 2026. The firm has signed a letter of intent with energy company Fortum providing exclusive rights to utilise an existing industrial site near the port of Inkoo. “Inkoo was selected as our location due to its hig