As part of its long-term strategy for the development of emission-free steel production, Metinvest intends to increase the sustainability of its production facilities and is interested in introducing new technologies to reduce its environmental impact. Meanwhile, K1-MET has broad expertise and experience in the implementation of research projects in the field of energy efficiency, circular economy, carbon capture, storage and use, climate neutral metal production and other related fields in cooperation with leading industrial players, research organizations and institutes.
General Director of Metinvest Group Yuri Ryzhenkov:
- We are aware of the urgent need to reduce the negative impact of metallurgical production on the environment. Metinvest is constantly exploring various technological solutions to reduce emissions today and in the future. This partnership with K1-MET represents an important part of a comprehensive approach to decarbonising the steel industry in the long term, and we will continue to develop this and other areas.
K1-MET CEO Thomas Bürgler:
- The 2015 Paris Agreement to limit the global average temperature rise to 1.5 ° C by 2100, as well as the 2019 European Green Deal, which aims to make Europe carbon neutral by 2050, highlight serious challenges for resource-intensive industries. The research and development program at the K1-MET Metallurgical Center of Excellence is focused on climate challenges, sustainability goals and the needs of our industrial partners.
Projects combine carbon neutral technology, circular economy and digitalization for sustainable steel production. Strategic research allows us to gain a deeper understanding of technological processes. And collaboration between industry and scientific partners helps K1-MET apply research results to production. The partnership with Metinvest based on the signed memorandum sets the course for this.
Background
K1-MET (Austria) is one of the world's leading research centers in the field of ferrous and non-ferrous metallurgy. For almost 20 years, the center has been collaborating with renowned Austrian and international metallurgical companies in the fields of energy efficiency, circular economy and carbon neutral metal production. K1-MET and its partners are working on technology solutions to transform the European metals industry.
Metinvest is a vertically integrated metals and mining group that manages every link in the supply chain - from iron ore and coal mining and processing to production and sales of semi-finished products and finished metal products. It includes metallurgical and mining enterprises in Ukraine, the EU, the UK and the USA, as well as a distribution network in all key world markets. Metinvest's strategic goal is to become the leading vertically integrated steel producer in Europe, delivering sustainable growth and profitability, as well as investment returns, above industry standards despite cyclical markets. In 2020, the Group had revenues of USD 10.5 billion and an EBITDA margin of 21%.
