Pyrogenesis Canada Inc T.PYR

Pyr could very well be a hybrit partner

[Tcheck]

A recent announcement by Europe’s largest iron ore producer, LKAB, may seem like a technical detail only relevant for metallurgists and steel nerds. However, the company’s plan to invest up to 400 billion kronor (US$46 billion) over the next 15–20 years to expand into an emissions-free iron process being piloted in Northern Sweden is big news for Sweden, the global steel industry, and future generations around the world.

LKAB, along with Vattenfall and SSAB, are behind the HYBRIT project which intends to grow, fossil-free, Sweden’s steel industry. They will use hydrogen instead of coal as the “reducing agent” to remove the oxygen from the iron ore.

The cost of producing the hydrogen should come down with their commitment to making it at scale. Aiming for 10GW of electrolyser capacity, that’s a quarter of the total EU target for 2030. It’s very good news for any other hard-to-abate sector hoping to use hydrogen. They expect their steel production to be competitive without subsidies beyond the EU carbon price. Blank says the project can set an example for steel makers around the world and suggests clean steel could even experience the successful cost reductions of solar.


HYBRIT project: Sweden goes for zero-carbon steel