Finland-based energy company Fortum and stainless steel manufacturer Outokumpu have signed a memorandum of understanding to explore the decarbonisation of Outokumpu’s operations with emerging nuclear technologies such as small modular reactors.
The agreement begins what Fortum said would be “a long-term process” with the aim to assess potential construction of SMRs in Finland.
One possible option for the location would be Tornio region in northern Finland, where Outokumpu’s largest mill is situated.
In the first phase, the goal is to identify potential business models and technical solutions for further development. Any potential investment decisions will be made at a later stage, Fortum said.
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