GreenIron, Scandinavian Steel sign distribution agreement
GreenIron, the start-up venture that was firstly announced in spring this year, has entered into an agreement with Scandinavian Steel AB, a Nordic distributor of metals, Kallanish notes. Both companies are headquartered in Stockholm.
According to a statement by the companies, Scandinavian Steel will become the exclusive distributor of GreenIron’s fossil-free iron, to be produced in Sandviken, Sweden. The agreement covers regular delivery of hydrogen-based direct reduced iron, which will be offered to the Nordic and European markets, they state.
“This partnership is a milestone not just for Scandinavian Steel but for the entire industry. Offering fossil-free iron to our customers is not only important – it is essential,” says Peter Witz, Scandinavian Steel chief operating officer.
GreenIron is set to begin commercial production in Sandviken in 2025. The market has already shown significant interest in GreenIron’s fossil-free production, the company notes. In summer, it collected SEK 100 million ($9m) of additional financing, and on that occasion also announced a larger financing round within the next six to nine months.
Christian Koehl Germany
