The MoU, which will be valid for five years, highlights the need to enhance direct iron reduction technologies and the production of hydrogen via electrolysis. According to the Memorandum, both parties have expressed interest in identifying decarbonization solutions and possibly implementing them at MMK, with the goal of reducing or eliminating CO₂ emissions.
 
Pavel Shilyaev, chief executive of MMK, stated, ‟In today's reality, due to the imminent introduction of the EU’s cross-border carbon regulation (CBAM), reduction of the ‘carbon footprint’ is fast becoming one of the key tasks and the biggest challenge for global metallurgy. MMK, committed to the principles of environmental responsibility, cannot stay away from the climate agenda.”
 
“SMS is actively and deeply involved in the development of technologies that help ferrous metallurgy businesses to achieve ambitious environmental protection goals — both now and in the long term,” Burkhard Dahmen, SMS group’s chief executive, added.