Kuusakoski invests in ‘carbon free’ steel recycling plant
24 March 2023
A recycling company in Finland is planning to invest €25 million (US$27 million) in building a steel recycling plant that it says will operate 100% carbon free.
The plant will be located in Veitsiluoto, around 750 km (466 miles) north of the capital Helsinki, and will link sea freight to rail and road transport.
Recycling services specialist Kuusakoski said the carbon-free plant – which it claims is the first of its kind – will respond to growing demand for recycled materials in both Finland and Sweden, while investing the company’s own recycling capacity by 25%.
It is part of a green investment programme under which the company aims to have carbon-free operations by 2035.
“In Veitsiluoto we are close to our largest end customers, and can offer superior, smart delivery models and competitive delivery times”, said president and CEO Mikko Kuusilehto.
“We are seeing the steel industry beginning to move towards carbon free production. Our new plant will bring with it carbon free processing, which will enable our customers to further reduce their climate impact throughout the value chain.”
With the investment, Kuusakoski’s customers will have the opportunity to use even more precise carbon footprint calculations and cleaner recycled steel in their production, which can further reduce the carbon footprint of steel products.
The building of the plant is planned to begin next year. The new plant is scheduled to be in operation in 2025 and once in operation it will employ approximately 20 people.
Of the €25 million total investment, €2.8 million ($3 million) will be financed by Business Finland from RRF (Recovery and Resilience Facility) funding.