Outokumpu has decided to significantly increase its energy efficiency improvement target and prioritize related investments in 2023 and 2024. So far, Outokumpu’s target has been to improve energy efficiency by 0.5% annually. Until the end of 2024, Outokumpu now aims to improve its energy efficiency by 8% across the group compared to the January–September 2022 level. These measures would correspond to energy saving of approximately 600,000 MWh which is equal to annual electricity usage of 15,000 households.
These additional investments do not impact Outokumpu’s capital expenditure frame of EUR 600M for the second phase of the strategy by the end of 2025. For 2023 and 2024, the annual capital expenditure remains EUR 200M.
Outokumpu’s target is to reduce its carbon dioxide emissions by 42% by 2030 compared to 2016 baseline.