Bogdan Tudorache

Liberty Steel Group will strengthen its businesses and considers carbon neutrality by 2030, says Jon Bolton, CEO of Liberty Steel Continental Europe.

“Due to the fact that we grew so quickly in a short period of time, we decided to restructure our business. Given the importance of steel within the group, we decided to create the Liberty Steel Group division, which will have three parts: Liberty Primary Steel (which Galati will also join), Liberty GreenSteel and Liberty Engineered Steel. All this will come from the reorganization of our group, with the aim of making it more efficient, considering that it will now have 30,000 employees in 10 different countries,” said Bolton, quoted by Agerpres.

“We have the ambition to become a carbon neutral company by 2030. As you know, every ton of steel produced generates almost 1.9 tons of CO₂. Our goal is to significantly reduce the amount of CO₂. This can be done in several ways. The most available and already knows is the electric arc furnace, where you recycle steel waste and this will reduce CO₂ emissions by almost 70%. There are other technologies … The known part is how much we will invest in electric arc technology because this technology is known. The unknown part is how much you will need to invest to introduce lesser known technologies, such as hydrogen-based steel production. We have already announced that we will invest significant amounts in Galati. When we finish that analysis, at the end of this year, we can talk about when the investments will start and how much we will spend,” Bolton added.