Outokumpu has signed an agreement to become a shareholder in Envigas AB, with an ownership share of 20%.
With a production plant based in Skellefteå, Sweden, Envigas AB is the first large-scale producer of high-quality biocarbon in the Nordics with a sharp focus on products for the steel industry to help in the shift towards zero emissions. Envigas aims to expand its production capacity by 25,000 tonnes in the first scale-up phase by the end of 2026 and Outokumpu has agreed to invest EUR 9.9M into the company. With the investment, Outokumpu secures a right to 50% of Envigas’ production.
Outokumpu’s climate target is to reduce carbon dioxide emissions by 42% by 2030, in accordance with the Science-Based Targets initiative’s 1.5-degree climate target.
Parallel to this transaction, Outokumpu continues to work on a feasibility study regarding a possible investment into a biocoke production facility of its own in the future.