You are here: Home > Steel News > Latest Steel News > Outokumpu...

Outokumpu acquires 20% stake in Envigas to secure biocarbon supply

Thursday, 16 November 2023 11:53:30 (GMT+3)   |   Istanbul
       

Finland-based stainless steel producer Outokumpu has announced that it has signed an agreement to acquire a 20 percent stake in Sweden-based biocarbon producer Envigas AB in line with its strategy to strengthen the supply chain of sustainable raw materials for the future.

Envigas AB aims to expand its Skellefteå plant’s production capacity by 25,000 mt by the end of 2026 and Outokumpu has agreed to invest €9.9 million in the company. With the investment, Outokumpu secures a right to 50 percent of Envigas’ production.

The company aims to reduce carbon emissions by 42 percent by 2030 compared to 2016 and to decarbonize its stainless steel production by switching from the use of fossil raw materials to biomass-based alternatives.


Similar articles

China’s stainless steel exports up 19.75 percent in Jan-Sept

04 Nov | Steel News

Flat steel prices in local Taiwanese market - week 44, 2024

31 Oct | Flats and Slab

Local Chinese stainless steel prices fluctuate slightly

30 Oct | Flats and Slab

Ex-China stainless steel prices move sideways

29 Oct | Flats and Slab

Flat steel prices in local Taiwanese market - week 43, 2024

24 Oct | Flats and Slab

Local Chinese stainless steel prices decrease amid weaker costs

24 Oct | Flats and Slab

Global stainless steel output up 6.3 percent in H1

23 Oct | Steel News

Ex-China stainless steel prices edge down

22 Oct | Flats and Slab

Flat steel prices in local Taiwanese market - week 42, 2024

17 Oct | Flats and Slab

Local Chinese stainless steel prices mostly soften slightly

16 Oct | Flats and Slab