Ovako said in an official press release that Hitachi Energy will install an SVC Light^® static compensator (STATCOM) system at the Smedjebacken works. The new technology will deliver energy savings for the mill, maintain compliance with industry power management standards and increase power grid stability. The system is expected to come on-line in summer 2026.
 
Marcus Hedblom, president and chief executive of Ovako, said, “This is a significant step toward realizing our vision of creating steel for a decarbonized society. By modernizing the Smedjebacken steel mill with advanced technologies like the SVC Light system, we are not only enhancing our production efficiency but also reinforcing our commitment to sustainability and energy efficiency. This investment sets a robust platform for future advancements and positions us at the forefront of the steel industry's environmental responsibility.”
 
The investment is the latest in a series of multimillion-Euro upgrades to the Smedjebacken mill in recent years, which have included a new exhaust gas filter, continuous casting machine and vacuum tank degassing system, Ovako said.
 
The mill received the 2015 AIST Energy Achievement Award for its frustrum hood and fume treatment plant upgrade.