Hydnum Steel has agreed to distribute hydrogen-based steel produced at its Spanish plant to Knauf Interfer for approximately €80m ($89m) per year.
Under a Memorandum of Understanding (MOU), the two companies plan to create a green steel supply network in Europe, utilising Knauf Interfer’s production and supply chain management platform that operates around its logistics centre in Duisburg, Germany.
The inner port location is expected to serve as a key hub to serve customers in central European markets to ensure efficient and sustainable deliveries from Hydnum’s green steel plant in Puertollano, which is scheduled to begin construction next year.
H2 View understands the MOU could ensure future collaboration in steel product processing, with Knauf Interfer offering cutting, segmentation and re-coiling services tailored for Hydnum’s customers.
A statement released by the two companies said, “As part of a commitment to sustainability, [we] plan to establish a circular economy system to recycle ferrous scrap together.
“This innovative concept will allow scrap generated by Knauf Interfer’s network to be recycled at Hydnum Steel’s Puertollano plant, closing the production loop and ensuring a complete circular economy.”
Hydnum Steel announced in July that the Puertollano plant was set to receive €1.65bn ($1.8bn) of government support. The plant obtained the declaration of a ‘Priority Project’ by the Government of Castile-La Mancha.
Read more:Hydnum Steel’s €1.65bn plant secures government support
Up to 1.5 million tonnes of rolled steel is anticipated by 2026, before the plant’s capacity is increased to 2.6 million tonnes in 2030.
Media Guide
Don’t just stay at the forefront of the latest news and views in the hydrogen economy, position yourself at the forefront with H2 View. Reach the right target audience for your company through our range of promotional platforms.
Whether online, in print, or as part of our newsletters, H2 View has a range of advertising options to meet your objectives. Download H2 View’s 2024 media guide today!
