LKAB and Partners Receive GAEA Award for HYBRIT Initiative

HYBRIT, a fossil-free iron and steelmaking initiative jointly launched by SSAB, LKAB, and Vattenfall in 2016, has been awarded the World Economic Forum's "Moving Force in Business" GAEA Award in Davos. The award recognizes sustainable business solutions capable of transforming industries and markets. HYBRIT aims to create the first value chain for fossil-free steel using fossil-free electricity and hydrogen, targeting a significant reduction in Sweden's carbon dioxide emissions by at least 10%.

The initiative has demonstrated success in its pilot phase and plans to scale up toward industrial production. HYBRIT serves as a model for sustainable steel production, showcasing the potential for collaboration across sectors to address global climate challenges. The award was presented at the Giving to Amplify Earth Action gala, highlighting HYBRIT’s role in driving sustainable transformation within the industry.

“We are honoured to receive this recognition by the GAEA Awards and the World Economic Forum,” said Jan Moström, President and CEO of LKAB. “The results show that the HYBRIT process works and that we are well positioned for the next step of industrializing the technology and establishing a competitive value chain for the fossil-free iron- and steelmaking of the future.”

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