Merus Power joins the transformation of steel industry by delivering compensators for green steel production
Merus Power has received a significant compensator order from one of the leading systems providers of construction and design services for steel plants in the metal industry. The compensators are designed to improve the energy efficiency of a green steel plant and will be delivered to a European customer during 2025. Typically, Merus® STATCOM systems in this power class and scope of supply cost between 4.5-6.5 million euros depending on final scope of supply and possible extension to be contracted.
Green steel is steel produced using hydrogen produced from renewable energy sources, which significantly reduces CO2 emissions compared to traditional manufacturing methods. Merus Power is actively involved in this transformation of the steel industry, providing solutions that improve energy efficiency and support carbon neutrality targets.
“We are strongly involved in the steel industry’s transition towards carbon neutrality. Renewable energy combined with modern Arc Furnace and compensation technologies are the key drivers in this development. Merus Power’s long history of expertise in supporting customers and partners in the steel industry and sizing equipment provides reassurance to our customers. With our expertise, we can ensure a stable electric grid for steel plants. We are a reliable partner that enables customers to succeed in their own projects.” – Kari Tuomala, CEO, Merus Power
Markus Ovaskainen
Director, Sales
Out of office until December 30, 2024.
