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HYBRIT Honored with World Economic Forum GAEA Award in Davos
This GAEA award recognizes sustainable business solutions that have the potential to transform whole sectors, industries or markets. HYBRIT was launched in 2016 by steel company SSAB, mining company LKAB and energy company Vattenfall, who together own the project. HYBRIT (Hydrogen Breakthrough Ironmaking Technology), aims to develop the first value-chain for fossil free steel, produced with fossil free electricity and hydrogen. The ambitious collaboration between SSAB, LKAB and Vattenfall, with results that prove the technology works, plans to transition from its successful pilot phase towards industrial scale production in the years to come. The initiative aims to cut Sweden’s carbon dioxide emissions by at least 10% and serves as a global model for sustainable steel production. “We are honored to receive this recognition by the GAEA Awards and the World Economic Forum. It is an important acknowledgement of the groundbreaking collaboration and journey we have undertaken together with SSAB and Vattenfall”, said Jan Moström, president and CEO of LKAB. “It’s a true honor to have the HYBRIT’s approach celebrated by the GAEA Awards. Putting sustainability at the core of our business strategy and partnering with SSAB and LKAB has been crucial for its success. Collaboration is key and I am very proud of how much we have accomplished together.”, said Anna Borg, CEO and president of Vattenfall. “We are grateful to the WEF and GAEA Awards for recognizing the HYBRIT initiative as a groundbreaking partnership. Thanks to the successful results from the pilot phase, we are transforming our Nordic production system to sharply lower fossil carbon emissions and deliver more value for customers. We are proud to collaborate with LKAB and Vattenfall to lead the iron and steel industry toward a more competitive and sustainable future,” said Johnny Sjöström, president and CEO of SSAB.
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