case / 16 Nov 2023
Setterwalls advisor when the Finnish listed stainless-steel company Outokumpu invests in Swedish EnviGas
Setterwalls has assisted the biocarbon company EnviGas in connection with Outokumpu becoming a new shareholder for development of high-quality green biocarbon. Through the investment, Outokumpu secures half of EnviGas’ production of biocarbon.
EnviGas, with a first production facility in Bureå outside of Skellefteå, Sweden, is one of Europe’s first companies to invest in large-scale production of high-quality biocarbon and with a clear focus on deliveries to the steel industry. Biocarbon, which is produced by pyrolysis of biomass, can replace fossil coal and coke in the different production processes in the production of stainless steel and thus contribute to the reduction of carbon footprint. Therefore, the new raw material is a key enabler in the transition towards a fossil-free and greener production of steel.