The early work on the assessment, as well as pre-feasibility studies that are nearing completion, all represent progress on a project that aims to annually produce 2.5 million metric tons of low-CO₂ steel, Blastr Green Steel said in a statement. 

The company said the impact assessment is to be completed in the spring of 2024, and at the moment, the company is soliciting public feedback on its plan for carrying out the assessment. 

“The preparation of the environmental impact assessment program has been a huge task, involving a wide range of experts from different fields. We have discussed the content extensively with various authorities, local organizations and other stakeholders, and taken their feedback into account in it,” said Blastr Green Steel managing director Antti Kaikkonen. 

Blastr is proposing to build a hydrogen-based DRI plant and EAF facility in Finland. It is aiming to produce premium flat-steel products for customers looking to lower their own carbon footprints, especially those in the construction and automotive sectors. 

It’s a EUR4 billion investment, and the company is continuing to line up financing. It expects to close on its Series A funding round late this year.  

In another development, the company has identified a second potential site for its pellet plant, which would covert pelletized iron ore into pellets that can be used in a direct reduction furnace. The site is in the Lutelandet industrial area along Norway’s western coast. 

In July, the company identified a potential site in Teesside, United Kingdom. 

“By considering two sites in parallel, Blastr maintains optionality during the development process to optimize the value chain,” the company said.