- Blastr plans a €4 billion green steel plant in Inkoo, Finland, starting by end of 2026.
- The project will create up to 1,200 direct jobs.
- The plant will integrate hydrogen production to cut CO₂ emissions by 95%.
- It will produce 2.5 million tons of green steel annually.
Investment and Timeline
Blastr Green Steel is planning a €4 billion investment to establish a green steel plant with an integrated hydrogen production facility in Inkoo, Finland. The project is expected to create up to 1,200 direct jobs and aims to start production by the end of 2026.
Strategic Location
Inkoo was chosen for its high-quality infrastructure, access to clean power, and an ice-free deep-sea harbor that enables efficient, low-carbon logistics year-round. The location supports Finland's ambitious low-carbon targets and provides a supportive environment for green industry operations.
Environmental Impact
The steel industry is responsible for about eight percent of global CO₂ emissions. Blastr aims to cut the CO₂ emissions of its end products by 95% by replacing coke and coal with hydrogen in the chemical reduction phase. The plant is expected to produce 2.5 million tons of high-quality hot and cold-rolled green steel annually, significantly reducing the carbon footprint compared to conventional methods.
European Market and Climate Goals
Green steel is crucial for the green transition, serving as a critical raw material for renewable energy infrastructure, construction, automotive, and consumer goods. The demand for decarbonized steel in Europe is projected to reach 50 million tons by 2030. Blastr's project will contribute to the climate and carbon neutrality goals of both Finland and the EU.
