Blastr Green Steel (Blastr) has signed a Memorandum of Understanding (MoU) with INTERFER Edelstahl Group, a European steel trading company, to deliver 150,000 tonnes of ultra-low CO₂ steel products annually. This marks the second off-take agreement announced in just over a month, representing 10% of the projected capacity at Blastr’s upcoming green steel plant in Inkoo, Finland.
The CEO of Blastr said in an official statement, “INTERFER is one of Blastr’s shareholders and we are very pleased to expand our partnership to also include delivery of low-carbon steel products. The agreement demonstrates continued customer demand for decarbonised steel products at a market
premium reflecting the need for new investments in Europe’s steel industry. It also underpins our joint commitment to enabling material climate change impact by bringing green steel to the market at scale”.
Blastr is creating a low-carbon steel value chain with lower C0₂ emissions compared to conventional steelmaking by using hydrogen instead of coal. They are building a low-carbon steel value chain with reduced CO₂ emissions compared to traditional steelmaking by replacing coal with hydrogen in the production process and utilizing clean energy for feedstock.
This initiative includes The Inkoo steel plant will produce 2.5 million tonnes of ultra-low CO₂ steel annually, while a green direct reduction (DR) pellet plant in the UK will help meet Europe’s growing demand for sustainable industrial solutions.
Both projects are part of Blastr’s push for low-carbon steel using hydrogen and clean energy.
Gerold Lorenz, CEO of INTERFER Edelstahl Group, commented: “Entering into this MoU and thus resulting in the offtake of ultra-low CO2 HRC grade steel is the next and consequential step for INTERFER Edelstahl Group, following the investment taken by our 2 affiliate INTERFER Austria GmbH. The aim to support the green transition and build a sustainable future is the key driver for us to invest in and promote green steel.”
The agreement with INTERFER covers the supply of ultra-low CO2 steel products from the Inkoo plant over a long-term period. The HRC grade steel will have total embodied emissions under 500 kg CO₂ equivalent per tonne (including Scope 1, 2, and 3), compared to around 2,200 kg CO₂ per tonne from conventional steelmaking.
Deliveries are expected to begin by the end of 2029, with formal contract discussions set to start in early 2025.