12 October 2022
HYBRIT: New study shows successful performance of hydrogen-reduced iron
New research in the HYBRIT project by SSAB, LKAB and Vattenfall has shown successful performance and quality of hydrogen direct reduction sponge iron (H-DRI) made using HYBRIT technology. Test results show that direct reduction with hydrogen produces a significantly better product that is easy to handle, transport and store, plus the process virtually eliminates CO2 emissions during the reduction step. Compared to iron reduced with fossil gases such as natural gas, the carbon-free hydrogen-reduced iron product produced at the pilot plant using HYBRIT technology is highly metallised, has excellent mechanical properties and resists quality degradation over time. A patent application describing these inventions has been submitted to the European Patent Office by Hybrit Development AB. The first demonstration facility will become a reality in Gällivare in 2026.
Japanese steel company Kobe Steel invests in H2 Green Steel
H2 Green Steel has signed a contract with Midrex for the supply of Midrex’s 140 metre high reduction tower, which is required for H2GS’ new steel plant in Boden. Midrex is a wholly owned subsidiary of Japanese steel giant Kobe Steel and the world's largest manufacturer of direct reduction towers with an 80% market share. The settlement also means that Japanese steel giant Kobe Steel will bring money into the project. In the 140 metre high tower, iron ore will be converted into sponge iron with the help of hydrogen. Land preparation for the site where the tower will be located is already in full swing. In 2025 or 2026, the tower should be ready for operation. The facility will have a capacity of 2 million tonnes of sponge iron per year.
Vinted, second-hand fashion marketplace in Europe and North America, now launched in Sweden
Vinted is now entering the Nordic region by entering the Swedish market. According to Svensk Handel's report, the turnover of second-hand goods in the Swedish market will grow by at least SEK 1.5 billion per year in the coming years. In addition, two thirds of the Swedish population bought one or more second-hand goods in 2020. Vinted's goal is to make second-hand the preferred choice by allowing people to buy and sell second-hand items, and to extend the life of clothing. Today, the business model aims to support the large selection of second-hand items in the catalogue, enabling shoppers to find a wide range of affordable fashion products in a safe and convenient app.
New power lines from Sollefteå to the south will cost SEK 14 billion
Svenska Kraftnät is investing SEK 14 billion in the so-called Kustpaketet (Eng. the Coast package), which will contribute to the transmission of electricity between northern and southern Sweden. The investment is essential to meet the increased electricity consumption in the areas around Sundsvall, Uppsala, Stockholm and Mälardalen. It is expected to be completed by 2036. The investment is also justified by the ability to transfer regulated electricity, mainly hydropower, from the north to the south of the country and to increase the wind power input capacity to the southern coast of Norrland.
OX2 invests SEK billions in solar parks
Interest in large-scale solar energy is surging, and now listed energy developer OX2 is planning a multi-billion SEK investment in solar parks. Recently, OX2 announced that it has started the permitting process for another solar project outside of Halmstad in Halland County. Many of OX2's planned solar parks are located in the electricity price zone for southern Sweden, which is the area most affected by record high electricity prices this year.
Energy company plans wind power development in northern Åland
Finnish energy company Ilmatar wants to build a wind farm north of Åland. Today, the company is expected to start a survey of the state of the seabed in 600 km² of sea area. The plan is to connect the Swedish electricity price zone SE3 with Finland, and it is assessed that the wind farm is expected to generate about 10% of Finland's annual electricity consumption. The survey is expected to be completed early next year. The plan is to start building offshore wind power by 2030.
RES and Modvion collaborate on wooden wind turbine
RES has signed a letter of intent with Modvion to use Modvion's wooden wind turbines in future wind farms. The agreement describes a future order for Modvion towers worth approximately SEK 4 billion and notes that RES Nordics will promote Modvion's modular wooden tower technology to its wind power suppliers. The aim is for turbine manufacturers to buy wooden towers which will then be used in wind farms developed by RES. Switching from emission-intensive materials such as steel and concrete to renewable materials such as wood can significantly reduce emissions. Wood also stores carbon, so the tower can act as a carbon sink, reducing the emissions of the entire turbine by 30%.
Bioplastics company goes bankrupt, despite millions in subsidies
Danish company Maistic Bio Group ApS, based in Elsinore, which produced bioplastic plastic bags and straws made from reeds and bamboo, has gone bankrupt. Despite a DKK 3 million loan from the Danish Growth Fund, Maistic Bio Group's business deteriorated. With declining turnover and negative effects of the pandemic, including rising shipping prices, the owners finally gave up and left the company in bankruptcy with debts of over DKK 5 million. The owners have tried unsuccessfully to find a buyer for the company and now the company's stock and inventory in Denmark, as well as possible rights, trademarks, names, and so forth, will also soon be offered for auction.
Wednesday's electricity prices in Sweden increased sharper than expected - worst in the south
Electricity prices in Sweden plummeted last week. The strong boom in wind power and the restrictions on electricity exports were behind the sharp fall in prices. However, on 12 October, spot electricity prices in southern and central Sweden rose again. So far, the electricity price zones of SE3 and SE4 (southern and central Sweden) have seen the biggest increase in electricity prices, with the average price for the 24-hour period on 12 October soaring to SEK 1.40 per kWh from just under SEK 0.10 per kWh on 11 October. Electricity analysts say that prices depend a lot on the weather. For example, as was shown last week, mild and windy weather can significantly reduce the price of electricity. On the other hand, for example, a cold, dry winter and higher gas prices can cause electricity prices to soar.
Flexible energy systems can increase the share of renewable electricity
According to an energy agreement that came into force in 2016 following a decision by the Swedish Parliament, all electricity production in Sweden must be fully renewable by 2040 at the earliest. This means first expanding wind energy and, to a certain extent, solar energy. According to Statistics Sweden, Sweden's total electricity consumption in 2021 will be 165 TWh. Of this, approximately 71 TWh will come from hydropower and 28 TWh from wind and solar energy. Thus, renewable energy sources will together account for more than 60% of all electricity production. In less than 20 years, all of Sweden's electricity production will have to come from renewable sources. The problem is that solar and wind energy provide an uneven flow of energy depending on the weather and wind power. But research at Linköping University shows that a flexible energy system in which district heating systems, the electricity system and industry work together to balance energy consumption can help achieve this goal.
What we're reading
- UK to miss net zero target without lifestyle changes, say peers (Financial Times)
- EU looks to enforce mandatory co-operation on gas purchases (Financial Times)
About Nordic Green News
The Nordic countries are some of the most dynamic and successful economies in the world. They are also leaders in sustainability, from renewable energy, biofuels, carbon capture and storage and the hydrogen economy, circular economy business models and battery development, the Nordics are pioneers in policy design, technology development and consumer uptake. Mundus Nordic Green News is covering this transition for the international community. Every day we curate the stories of most relevance to international businesspeople and policy experts from the flow of news. Mundus Nordic Green Indices summarise the meta-data from our daily coverage to enable easy tracking of trends. We supplement these with our own opinion pieces and commentary.
Powered by Notified