HELSINKI, Feb. 27, 2025 /PRNewswire/ -- Blastr Green Steel (Blastr) has signed a memorandum of understanding (MoU) with Aurora Infrastructure regarding a build, own and operate (BOO) agreement, under which Aurora will design, construct, operate, maintain and finance the electricity distribution facilities for Blastr's planned steel plant in Inkoo, Finland.
Aurora Infrastructure is a Finnish electricity network partner for the industry, responsible for network development, necessary network investments, and network maintenance and operation as a complete solution.
"Blastr will explore the possibility to outsource its electricity networks to Aurora Infrastructure, who have specialized expertise for operating industrial electricity networks ensuring the reliability and timely execution of network investments. The work under evaluation covers everything from design, construction, network operation including routine maintenance and financing of the network investment, lowering Blastr's capital investment and enabling Blastr to focus on its core business," says Blastr's Chief Technical Officer Mikael Lindvall.
This partnership marks a significant milestone in the development of Blastr's low-carbon mine-to-gate steel value chain with 90% lower C02 emissions than conventional steelmaking by using hydrogen instead of coal in the iron production process and feedstock made with carbon-free energy. This mine-to-gate model enables a differentiated and profitable business model with a low carbon footprint.
"The collaboration with Aurora Infrastructure is a critical step forward in realizing our vision of producing green steel at scale. Aurora Infrastructure's deep experience in energy solutions makes them an ideal partner for this project. We are excited to work together to advance the Inkoo plant, which will not only reduce carbon emissions but also strengthen Finland's position as a leader in green industrial innovation," says Mark Bula, CEO of Blastr Green Steel.
The partnership underscores Blastr Green Steel's and Aurora Infrastructure's shared vision of driving sustainable industrial transformation through innovation and strategic cooperation.
"We are excited to enter this partnership for planning the Build, Own and Operate collaboration with Blastr Green Steel. Blastr's Inkoo project demonstrates how the latest technologies in sustainable steelmaking take the industrial landscape forward in Finland and Europe. We are pleased to see that Blastr recognized Aurora Infrastructure's unparalleled track record for BOO agreements with the largest industrial energy users and pioneers in green transition in Finland," says Robin Lindahl, CEO of Aurora Infrastructure.
For further information, contact:
media@blastr.no
+358 504520019
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