Blastr Green Steel expands Interfer collaboration

Norway-based Blastr Green Steel has signed a memorandum of understanding with German steel trading company Interfer Edelstahl Group for the supply of 150,000 tons of ultra-low CO₂ steel products annually. Blastr says this is its second announced offtake agreement in just over a month, covering a combined 10 percent of the planned capacity of a steel plant it is developing in Inkoo, Finland.

Blastr says it is creating a low-carbon steel value chain with lower CO₂ emissions compared to conventional steelmaking by using hydrogen instead of coal in the production process and feedstock made with clean energy. The company says its Inkoo mill is set to produce 2.5 million tons of its ultra-low CO₂ steel annually.

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“Interfer is one of Blastr’s shareholders, and we are very pleased to expand our partnership to also include delivery of low-carbon steel products,” Blastr CEO Mark Bula says. “The agreement demonstrates continued customer demand for decarbonized steel products at a market premium, reflecting the need for new investments in Europe’s steel industry. It also underpins our joint commitment to enabling material climate change impact by bringing green steel to the market at scale.”

The agreement with Interfer covers the supply of Blastr’s low-carbon steel products from the Inkoo plant over a long-term period. Blastr says it expects to supply HRC-grade steel with CO₂ total embodied emissions of less than 500 kilograms CO₂  equivalent per ton in conventional steelmaking. The company adds that deliveries are planned to start by the end of 2029. Both companies say they intend to start discussions on a binding agreement in the beginning of 2025.

“Entering into this MoU and, thus, resulting in the offtake of ultra-low CO₂ HRC-grade steel is the next and consequential step for Interfer Edelstahl Group, following the investment taken by our affiliate Interfer Austria GmbH,” CEO Gerold Lorenz says. “The aim to support the green transition and build a sustainable future is the key driver for us to invest in and promote green steel. Blastr’s ultra-low CO₂ HRC-grade steel will be an excellent addition to our product portfolio, and we are looking forward to offering this high-grade material to our customers.”