The funds are distributed within the framework of the Fund for a Just Transition, which is an EU fund. SSAB’s CEO stated in a press release that the grant strengthens both the company and Sweden’s competitiveness. “The financing from the EU and the Swedish Agency for Economic and Regional Growth enables us to continue at a high pace in the transition to fossil-free steel production. It is also a clear signal from both the EU and Sweden about the importance of our transition,” said Johnny Sjöström.
Energy and Enterprise Minister Ebba Busch (KD) echoes the same sentiment. “The transition to fossil-free steel is an important part of strengthening the industry’s competitiveness and creating new jobs. Swedish companies are leading the way, and the state plays a crucial role in supporting and removing obstacles,” said Busch.
According to Minister of Climate and the Environment Romina Pourmokthari (L), it is “crucial” for SSAB to transition “to significantly reduce Sweden’s total emissions in one sweep.”
SSAB has previously been awarded nearly 38.6 million SEK from the same fund for SSAB Academy. Today’s transition support is the largest single support within the Swedish program. The EU and the Swedish Agency for Economic and Regional Growth each provide half of the financing.
This move signifies a major step towards sustainable and environmentally friendly practices in the steel industry. The allocation of funds from the EU and Swedish government showcases a commitment to driving innovation and reducing carbon emissions in the manufacturing sector. SSAB’s dedication to transitioning to fossil-free steel production not only benefits the company but also sets a precedent for other industries to follow suit.
The support from the Fund for a Just Transition highlights the importance of investing in sustainable initiatives that have a positive impact on both the economy and the environment. By receiving this substantial grant, SSAB is positioned to lead the charge in revolutionizing the steel production process and setting a new standard for environmentally conscious manufacturing practices.
As SSAB continues its journey towards fossil-free steel production, the support from the EU and the Swedish government serves as a testament to the collective effort to combat climate change and promote sustainable development. This partnership between industry leaders and policymakers underscores the importance of collaboration in achieving ambitious environmental goals and creating a more sustainable future for all.