Cargotec Corporation: Cargotec and SSAB partner to bring new zero-emission recycled steel to the cargo and load handling industry

CARGOTEC CORPORATION, PRESS RELEASE, 3 MAY 2023 AT 10:00 AM EEST

Cargotec and SSAB partner to bring new zero-emission recycled steel to the cargo and load handling industry

Cargotec and SSAB are taking their partnership to the next level by introducing SSAB Zero, a fossil carbon emission-free recycled steel, to the cargo and load handling industry. Cargotec plans to gradually start using this steel in its products this year.

The collaboration on SSAB Zero is a natural next step where Cargotec and SSAB continue their work together to reduce impact on climate in cargo and load handling solutions. The partnership has already resulted in the introduction of the world's first load-handling equipment, a MULTILIFT hooklift, made with fossil-free steel. A prototype of this hooklift was unveiled by Hiab, part of Cargotec, in September 2022.

Approximately 26 percent of Cargotec's total greenhouse gas emissions came from purchased goods in 2022. Decarbonising Cargotec's supply chain is an important step in achieving the company's ambitious science-based climate target, which is to reduce value chain emissions by 50 percent by 2030. SSAB Zero and, eventually, fossil-free steel will be key factors in this mission.

"As a provider of cargo and load handling equipment and solutions we are a major user of steel. Whenever possible, we give preference to materials with a smaller carbon footprint than traditional alternatives, and SSAB Zero provides a zero-emission and circular solution," says Päivi Koivisto, Vice President Sustainability at Cargotec. "This is an important step on the journey towards fossil-free steel, and a great opportunity for Cargotec to grow its low and zero-emission offering."

"We're happy to welcome Cargotec as a partner also for SSAB Zero and look forward to continuing our joint efforts to reduce carbon footprints in the value chain," says Thomas Hörnfeldt, Head of Sustainable Business at SSAB. "Demand for zero-emission steel keeps increasing, and SSAB Zero enables us to deliver more steel of this kind to our customers already this year."

SSAB Zero has zero fossil carbon emissions (less than 0.05 kg CO2e emissions per kg steel in scope 1 and 2) in operations, including purchased energy and transportation. SSAB practises market-based emission factors for the electricity used and may secure fossil-free electricity through electricity guarantees of origin. Fossil fuels remain in the ground as SSAB has implemented a system to manage and ensure the correct source and use of alternatives connected to the production of SSAB Zero. Only recycled steel is used as a raw material, which means SSAB Zero supports the circular economy. Neither Cargotec nor SSAB engage in carbon emission offsetting activities.

For further information, please contact:
Päivi Koivisto, VP Sustainability Cargotec, [e-mail], [phone]
Hanna Hoikkala, press officer SSAB, [e-mail], [phone]

Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec has signed the United Nations Global Compact Business Ambition for 1.5°C. The company's sales in 2022 totalled approximately EUR 4.1 billion and it employs approximately 11,500 people. www.cargotec.com