The total cost of the program is expected to reach approximately 50 million euros, including partner contributions and additional project packages.
At its core, the initiative aims to create a broad industrial ecosystem involving more than 200 stakeholders, including research institutes, universities, technology suppliers, steel manufacturers, and customer companies.
Focus on advanced steel solutions
SSAB plans to modernize the steel production model in the Nordic countries by developing advanced high-strength, low-emission steel grades in collaboration with its customers. The program is also designed to support new industrial applications, enhance export potential, and strengthen Finland's global competitiveness.
The initiative will focus on several strategic areas, including fossil fuel-free electric steel production technologies, digital and sustainable supply chain optimization, large-scale low-emission steel applications, and the cyclical use of steel byproducts.
The growing market for environmentally friendly steel
By market, it is estimated that the global decarbonized steel market is expected to exceed 110 billion euros by 2032, underscoring the strategic importance of such investments.
Tony Harris, head of SSAB Europe, said the financing marks a key step towards building a completely fossil fuel-free value chain and expanding cooperation within the steel ecosystem.
