Flying start for the first investment in new industry venture (The Industrial Leap)
The first decision in the Swedish Government's long-term venture The Industrial Leap, which the Swedish Energy Agency is responsible for, is now done. The project funded is a feasibility study for a pilot plant for fossil-free steel production, HYBRIT, where the Swedish Energy Agency provides support with SEK 9.7 million.
The purpose of the project is to investigate the prerequisites for a pilot facility, how it should be designed, where it should be located and what technologies will be used in future development.
"With our commitment to the HYBRIT initiative we contribute to long-term competitiveness for the Swedish iron and steel industry. At the same time, we are also switching up the work on the unique green energy systems in Sweden and pushing the transition to a fossil-free industry and a sustainable society," says Erik Brandsma, Director General at the Energy Agency.
The Swedish Energy Agency has been commissioned to contribute to reducing industry's process-related greenhouse gas emissions through the government's long-term investment in the Industrial Leap. The investment will contribute to the transition required to achieve zero net greenhouse gas emissions in Sweden by 2045. The funding will be used for measures that help reduce industry's process-related emissions. The Industrial Leap comprises a total of SEK 300 million per year and runs between 2018-2040.
The government venture Industrial Leap means that the state shares the risk with the companies to achieve the desired development. The size of the funding and the long-term support gives the industry good opportunities to make the necessary technological advances. Furthermore, it also makes it possible to invest in new techniques to be tried out in demonstration and pilot plant scale. The technological and system transition which is necessary to achieve climate goals will strengthen the companies that are at the front edge.