SSAAY Ssab Swedish Steel (PK)

By Dominic Chopping

STOCKHOLM--Swedish steelmaker SSAB AB said Tuesday it has signed an agreement with Alfa Laval AB to collaborate on the development and commercialization of a heat exchanger made using fossil-free steel.

The goal is to have the first unit ready in 2023, made with steel that uses new hydrogen-based technology with a much lower climate impact than conventionally-produced steel.

"The collaboration between the two industrials is an important step in Alfa Laval's journey to become carbon neutral by 2030," SSAB said.

"It is also well aligned with SSAB's aim to largely eliminate carbon-dioxide emissions from its own operations in around 2030."

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

May 31, 2022 05:19 ET (09:19 GMT)

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