10/28/2021 | Press release | Distributed by Public on 10/28/2021 09:28
Metinvest, the international vertically integrated group of steel and mining companies, and Danieli, a leading global manufacturer of plants and machines for the metals industry, have signed a memorandum of understanding for the development and implementation of technologies for green and low-carbon steel production. The parties will explore opportunities for implementing new technologies to reduce the carbon footprint of Metinvest's facilities in Ukraine and the EU.
Initially, these technologies will cover the rolling segment of steelmaking to reduce CO2 emissions, exploit CO2 usage, and optimise energy consumption.
The collaboration will explore the possibilities of financing R&D projects through the Horizon Europe funding mechanism, as well as decarbonisation projects within the framework of the European Union Innovation Fund and sourced from the Emissions Trading System (ETS).
The memorandum is an important step for Metinvest in its efforts to explore the application of leading technologies to reduce the negative impact on the environment from steelmaking and accelerates the development of technologies for sustainable green steel plants by Danieli.
Yuriy Ryzhenkov, Chief Executive Officer of Metinvest:
"Throughout the past decade, Metinvest has worked diligently to reduce its carbon footprint. Consistent with our commitment to sustainability, we are investing time and money to find an actionable pathway to operational decarbonisation.
I am confident that Danieli's innovative technological solutions in this area will help to advance our journey towards becoming a low-emissions steel producer."
Giacomo Mareschi Danieli, Chief Executive Officer of Danieli:
"Sustainability is at the basis of Danieli process layouts and equipment design. Danieli research and development continuously strive for new solutions for quality products to be produced using less resources in terms of energy and delivering higher product yield. The results also ensure production efficiency and flexibility, and extended safety. All this leads to lower OpEx, lower emissions and promptness in answering market requests, allowing customers to be a step ahead.
We target to effectively support Metinvest with Green Metal technologies, allowing sustainable production throughout its entire production cycle."
Metinvest is a vertically integrated group of steel and mining companies that manages every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. It comprises steel and mining production facilities located in Ukraine, the EU, the UK and the US, as well as a sales network covering all key global markets. Metinvest's strategic goal is to become a leading vertically integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles and providing investors with returns above the industry benchmarks. For the first six months of 2021, the Group reported revenues of US$8.5 billion and an EBITDA margin of 45%.
Danieli is a leading plantmaker and its portfolio includes production processes ranging from reduction of iron ore to long and flat products finishing lines. Danieli is developing and improving technological processes to reduce greenhouse gases, increase energy efficiency and enhance the protection of the environment.