Swedish steel manufacturer SSAB and wave energy innovator CorPower Ocean have forged a strategic alliance to propel the development of fossil-free steel for application in wave energy technology. Their collaborative efforts are geared towards the creation of one of the world's inaugural wave energy power plants constructed with environmentally friendly steel.
CorPower Ocean will harness SSAB's fossil-free steel as a structural material for the construction of a wave energy system designed to significantly curtail carbon emissions when compared to existing alternatives in the market. The overarching objective is to integrate fossil-free steel into CorPower Ocean's commercial offerings by the year 2026.
This partnership assumes particular significance, as approximately 25% of the total lifetime carbon dioxide emissions associated with CorPower Ocean's wave energy products stem from the use of steel as a material.
The synergy between SSAB and CorPower Ocean charts a new course within the wave energy sector, spotlighting the holistic lifecycle of energy generation systems, including the ethical sourcing and recycling of structural materials.
Thomas Hörnfeldt, Vice President of Sustainable Business at SSAB, underscored their long-standing support for CorPower Ocean and their dedication to the development of high-strength steel for wave energy technology. He expressed their anticipation for the next phase of this enduring partnership, focusing on the delivery of fossil-free steel to ensure that CorPower Ocean's commercial products boast the lowest feasible carbon footprint.
Anders Jansson, Head of Business Development at CorPower Ocean, emphasized the company's commitment to environmentally responsible electricity generation. He stated, “One of our core company mantras is to deliver the most environmentally friendly electricity on our planet. With our collaboration with SSAB and the use of fossil-free steel, we aim to lead the renewable sector in transparent reporting and the continuous reduction of lifecycle emissions.”
Wave energy represents a promising source of constant clean energy, capable of satisfying year-round electricity demands. It stands as one of the most substantial untapped reservoirs of clean energy, with a potential harnessable capacity of 500 GW, surpassing the combined global nuclear energy resources available today.
Aligned with its sustainability commitment, SSAB envisions introducing fossil-free steel to the market on a commercial scale by around 2026 and intends to substantially slash its CO2 emissions from operations by approximately 2030. SSAB actively collaborates with iron ore producer LKAB and energy company Vattenfall as part of the HYBRIT initiative, focused on forging a value chain for fossil-free iron and steel production. This initiative substitutes traditional coking coal, used in iron ore-based steelmaking, with fossil-free electricity and hydrogen, virtually eradicating carbon dioxide emissions from steel production.