LIBERTY Steel Group
LIBERTY Steel plans to merge into one global group, which will incorporate the LIBERTY Galaţi steel plant, as well as setting its sights on carbon-neutral operations by 2030.
- A single global company – LIBERTY Steel Group – to be created, consolidating GFG Alliance’s steel businesses into one legal entity;
- GREENSTEEL strategies to be at the heart of the combined group, including exploration of new environmentally friendly technology such as hydrogen based steel making;
- LIBERTY Steel Group aims to be the world’s first carbon neutral steel company by 2030.
The GREENSTEEL strategy focuses on using electric arc furnaces to recycle scrap steel, rather than producing all material from scratch, as well as using renewable sources of energy. Steel from recycled scrap using fossil fuel-based energy generates less than a third of the CO2 emissions compared with primary steel making, with the benefit dramatically increasing to almost zero emissions with the use of renewable power in GREENSTEEL. LIBERTY’s plants already recycle three million tonnes of scrap steel annually, with investment underway in electric arc furnaces in the UK, Australia and the United States.
LIBERTY’s sites around the world are already working to reduce transport emissions, cut electricity use and minimise waste. Renewable energy initiatives include the Cultana solar farm in Australia, Glenshero hydro-electric plant in Scotland and Newport waste-to-energy project in Wales.
“Steel is the building block of modern life and the GFG Alliance has always put sustainable strategies at the heart of its business model. We recognise that becoming carbon neutral by 2030 is a very ambitious target but we have firm foundations already with our GREENSTEEL strategy in motion, and with technical viability of hydrogen usage for direct reduced iron now proven it gives us the confidence that such developments allow us to aim even higher with our goals. I am delighted to see pioneering companies, like LIBERTY Group, turn that vision in practice and send a clear message to the market that green steel will be available at commercial scale and sooner than one might think. We now need policy makers to step up to support steel producers who have committed to bold climate targets. We also need major steel buyers to commit to the use of zero-carbon steel to send a signal to producers: there is a demand for zero-carbon steel products.”
Executive Chairman of GFG Alliance
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