Outokumpu signs an MoU with Fortum

Outokumpu and Fortum have signed a Memorandum of Understanding (MoU) to explore the decarbonization of Outokumpu’s steel manufacturing operations with emerging nuclear technology Small Modular Reactors (SMR). The agreement initiates a long-term process with the aim to access potential construction of a SMR in Finland. In the first phase, the goal is to identify potential business models and technical solutions for further development.
Outokumpu has committed to the Science-Based Targets initiative’s 1.5°C climate target. Maintaining and increasing the share of low-carbon energy is important to achieving the company’s ambitious sustainability goals. Both Outokumpu and Fortum play a key role in ensuring energy efficiency, emission reduction and competitiveness in Finland. One possible option for the location would be Tornio region in Finland, where Outokumpu’s largest mill is situated.
In line with its strategy, Fortum wants to drive decarbonisation and growth for Nordic industries by providing clean energy and CO2-free solutions to its customers.

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