STEEL AND IRON MANUFACTURING INDUSTRY GENERATES 7% OF GLOBAL EMISSIONS.
As Netherlands targets to be net zero by 2050 and Turkey to be 2053, there are many potential opportunities can both countries benefit between each other to decarbonize Steel and Iron industry. According to World Steel Org (2021) some of the important facts about Turkey compared to EU and world as below:
– Biggest steel producer in EU
– 7th biggest steel exporter in the world.
– Biggest ferrous steel scrap importer in the world
– Higher utilization of electric for crude steel production than EU average
There is no silver bullet to decarbonize the manufacturing of iron and steel. Several transformation projects ongoing for Blast, Oxygen and Electric Arc Furnaces. Increase use of electricity while blending more hydrogen, natural gas will eventually lower the use of coal.
CCUS (Carbon Capture, Utilization, and Storage) project development will lower the carbon footprint of produced materials. In order to lower level cost of steel, an average of $6 Billion/yearly investment needed to reach 2050 targets.
According to IEA Steel and Iron report, one of the decarbonization the pathways is to utilizing more Scrap in Electric Arc Furnaces route which could be perfect match to benefit both countries to bridge innovation.
As can be seen below chart steel industry hydrogen demand will increase substantially by 2050. The additional investments and systems improvements needed to sustain the targets.
We can provide the services to transition net zero as below:
-Accelerate startup’s both technology and investment readiness level
-Improve the sales strategy for a better market product fit to scale in target countries.
-Use our network for collaboration and development of the product.
– Pull innovation from startup ecosystems and tailor it for implementation.
– Cost reduction via value engineering for greenfield investments.
– Grid connection and optimization studies for high current demand extensions/new builds due to Harmonics/Flicker problems.
– Reliability assessment studies for optimum Grid connection.
– Venture building strategy roadmaps to scale in-house.
Get in touch with us to see which services we can provide.