Global supplier of automotive components and composite materials, Meneta Group, has committed to utilizing low-carbon steel from Nordic and US-based steel company SSAB across its global operations, it said March 3.
As a result, the company expects to achieve annual Scope 3 emissions savings of 5,500 to 6,000 mt by 2026, which it intends to expand to 60,000 mt once low-carbon steel provided by SSAB is fully incorporated into its global operations.
“Being able to source sustainably manufactured steel for our global production sites already from 2026 ties in perfectly with Meneta’s existing market-leading role and first-mover status,” said Meneta Group CEO Kim Oestergaard.
“Our goal is to be among the first suppliers in the automotive industry to offer components and materials with significantly reduced CO2 footprints to our global customers,” he added.
Menata’s objectives are aligned with SSAB’s plans to deliver low-carbon steel at a commercial scale during 2026 and to largely eliminate carbon emissions from their own operations around 2030.
According to Menata, SSAB is developing a value chain for low carbon iron- and steel production through the use of renewable electricity and hydrogen instead of coking coal traditionally used for iron ore-based steel production.
“We are extremely happy to welcome Meneta, a forerunner within automotive brake components and sealing materials, as a partner for fossil-free steel products,” said Sales Director in SSAB Europe Jan Meier.
Platts assessed Northwest Europe hot-rolled coil at Eur820/mt ($840/mt) ex-works Ruhr March 3, up from Eur610/mt Dec. 1, 2022, according to data from S&P Global Commodity Insights.
— Euan Sadden