Blastr unveils €4bn green steel plant and hydrogen production facility in Finland

Norwegian company Blastr Green Steel (Blastr) is planning to establish a green steel plant with an integrated hydrogen production facility in Inkoo, Finland.

Blastr has entered into a Letter of Intent with Nordic energy company Fortum that provides Blastr exclusive rights to use an existing industrial site located in Inkoo. The €4bn investment is expected to create up to 1,200 direct jobs in the operations phase, with production planned to start by end of 2026.

The green steel plant together with the integrated hydrogen facility will be among the largest industrial investments planned in Finland to date.

Hans Fredrik Wittusen, CEO of Blastr Green Steel, said, “Finland is an ideal location for our project. It has an ambitious low-carbon target, supportive and predictable operating conditions for the green industry, fossil-free energy, and a highly qualified workforce. Inkoo was selected as our location due to its high-quality infrastructure and access to clean power. In addition, the ice-free deep-sea harbor enables efficient, low-carbon logistics all year round and close access to the European market.”

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