The document was signed during the First International Forum Decarbonization of the Steel Industry: a Challenge for Ukraine held in Kyiv.
In this memorandum, the parties agreed on the implementation of joint projects in the field of sustainable development of the industry. These include joint research and development initiatives under the Horizon Europe funding and the Coal and Steel Research Foundation related to climate and environmental challenges in the steel industry. The collaboration includes work on technology solutions that can be implemented at Metinvest's production facilities, as well as promising technologies and solutions for the entire steel and mining supply chain to accelerate Metinvest's decarbonization process. Areas of mutual interest include energy-efficient and innovative steel production based on DRI (direct-reduced iron), carbon capture and utilization and metallurgical gas.
"Metinvest continues to look for opportunities to achieve carbon neutrality in the future. And we believe that cooperation with such an experienced technological leader as Primetals Technologies will contribute to achieving the intermediate goal of decarbonization and make a significant contribution to achieving climate neutrality with zero greenhouse gas emissions," said Yurii Ryzhenkov.
"The company has been a long-term technology partner of Metinvest since its foundation," said Norbert Petermeier, executive vice president and board member of Primetals Technologies.
"We are proud to accompany Metinvest on its journey toward achieving its decarbonization goals. Over decades of customer-focused innovation, Primetals Technologies has pioneered disruptive technologies, and we are confident that this partnership will help shape the future of steelmaking," said Petermaier.
Primetals Technologies, headquartered in London, is a global leader in engineering, construction and lifecycle support for the steel industry. The company offers a full range of technologies, products and services including integrated electrical equipment and automation, digitalization and environmental solutions.
Also during the forum Metinvest signed a memorandum of cooperation with the leading Austrian metallurgical research center K1-MET to implement joint projects on the reduction of CO2 emissions under the European Green Deal. Gerold Humer represented the Austrian company at the forum.
Metinvest is looking to increase the sustainability of its production facilities and is interested in introducing new technologies to reduce its environmental impact. For its part, K1-MET has broad expertise and experience in research projects in the field of energy efficiency, circular economy, carbon capture, storage and use, climate-neutral metal production and other areas.
Metinvest is a vertically integrated group of mining and metallurgical companies managing every link of the supply chain, from mining and processing iron ore and coal to producing and selling semi-finished and finished steel products. It includes metallurgical and mining companies in Ukraine, the EU, the UK and the USA, as well as a sales network in all key global markets. In 2020, the Group generated revenue of $10,5 bln and an EBITDA margin of 21%.