SSAB Helps Australian Businesses Achieve Sustainability Goals with World's First Fossil-Free

MELBOURNE, Australia, Sept. 21, 2021 /PRNewswire/ -- Leading global steel manufacturer and supplier, SSAB, announces its latest fossil-free steel variants produced using Hydrogen Breakthrough Ironmaking Technology ("HYBRIT Technology"). As the world's first fossil-free steel, the company aims to help Australian businesses achieve sustainable transportation and manufacturing processes with its green and sustainable technology.

This initiative comes at a time when Australian policymakers and companies are exploring "green steel" as an opportunity to support business growth, operational efficiency, and sustainable development.

A report by the Grattan Institute found that if Australia captured about 6.5% of the global steel market, the country could generate more than AU $65 billion in annual export revenue and create over 25,000 domestic jobs. As demand grows for fossil-free iron- and steelmaking, SSAB is doubling down on its efforts to promote an eco-friendly future for the transportation, construction, and mining sector with the world's first fossil-free steel.

"Our creation represents a significant step forward in the transition to sustainable iron and steelmaking. With mounting pressure for Australian governments and industries to address the impending climate crisis, businesses and individuals are being enacted to force change and implement sustainable global value chains. Fossil-free steel represents a viable alternative, as it does not compromise on quality and can be used in all industries," said Matthew Spiteri, Country manager for Australia and New Zealand.

Green hydrogen technology: a new revolution for sustainable businesses

HYBRIT, a jointed initiative of SSAB, LKAB and Vattenfall was created in 2016 with the aim of developing a technology for fossil-free iron- and steelmaking. The process replaces coking coal, traditionally needed for iron ore-based steelmaking, with fossil-free electricity and hydrogen.

In August 2021, SSAB was able to show the world´s first fossil-free steel plate made from hydrogen-reduced iron, produced at HYBRIT's pilot plant in Luleå, Sweden

This initiative has already been taken up by some of the world's leading companies across multiple sectors. In July 2021, SSAB Oxelösund successfully produced and delivered the first fossil-free steel reduced by 100% fossil-free hydrogen to Volvo Group. SSAB has also inked a partnership with Mercedes-Benz AG to introduce fossil-free steel into vehicle production as early as possible, with the first prototype parts for body shells planned for next year.

Beyond the automotive industry, the company has partnered with Cargotec to start coordinated development toward the use of fossil-free steel in Cargotec's cargo handling equipment.

"These partnerships demonstrate the vast potential of HYBRIT technology and fossil-free steel to bring a new future to sustainable construction, mining, and transportation in Australia. As a premium product with high customer value, HYBRIT will help companies strengthen their competitive advantage and meet growing global demand, while building the domestic skills and capabilities needed to create an export-oriented green steel industry," said Marta McInally, Sales Director East Asia, Asia Pacific and Australia.

SSAB plans to supply the market with fossil-free steel at a commercial scale in 2026. For more information, please visit www.ssab.com

About SSAB

SSAB is a Nordic and US-based steel company. SSAB offers value added products and services developed in close cooperation with its customers to create a stronger, lighter and more sustainable world. SSAB has employees in over 50 countries and has production facilities in Sweden, Finland and the US. SSAB is listed on Nasdaq Stockholm and has a secondary listing on Nasdaq Helsinki.

For more information, visit www.ssab.com. You can also join us on our official social media accounts: Facebook, Instagram, LinkedIn, Twitter, and YouTube.