SALZGITTER (dpa-AFX) - Klockner & Co. (KCO), a German steel and metals firm, said on Tuesday that it has entered into a partnership with Salzgitter AG (SZGPF.PK, SZGPY.PK), a rolled steel and tube products company, to support a green steel industry by supplying carbon neutral steel to their customers.
Salzgitter Flachstahl GmbH will produce the CO2-reduced steel for Klockner via the new hydrogen-based 'SALCOS - Salzgitter Low CO2 Steelmaking' production route, to achieve virtually carbon-neutral steel production, implemented in three stages.
The first stage will go into operation as early as the end of 2025.
'The gradual replacement of the blast furnaces currently in use by direct reduction plants and electric arc furnaces will already put the Salzgitter Group in a technical position to save around 95 percent of the emissions from steel production by the end of 2033,' Salzgitter said in a statement.
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