In an announcement, Cargill Metals said that under a memorandum of understanding with the start-up, Blastr Green Steel AS, the two organizations hope to “accelerate the development of projects that enable significant carbon savings to the global steel industry.”

According to its website, Blastr said it envisions a pellet plant on the Norwegian Atlantic coast and a steel plant on a Finnish industrial site.  The plan entails the production of 2.5 million tons of high-quality steel on coils per year, mainly based on Nordic iron ore concentrates.

“The plan entails the production of 2.5 million tons of high-quality steel on coils per year, mainly based on Nordic iron ore concentrates,” the company said. It hopes to begin production in 2027. 

Except to say that it will use renewable energy, Blastr doesn’t specify a production process. And in the announcement, it said the next step with Cargill will be to will focus on final technology selection, access to green power, location and the final mix of products.

“Teams from Blastr and Cargill Metals will collaborate on sustainable supply chains, speed to market, technology risks and constraints, and on raising capital to finance the project development,” the companies said.