Austrian voestalpine to improve research and design on sustainable development
5 Oct 2022 15:46 reported by Stanley Wang
voestalpine, an Austrian steel-based technology and capital goods group, announced that its budget (about €196 million) in the fiscal year 2022 to 2023 will be used in research and design (R&D) for sustainable development. The R&D included digitalizing the production processes, developing innovative products, and converting to climate-neutral steel production.
Apart from that, voestalpine also focused on greentec steel development. The first phase aimed to reduce CO2 emissions by one-third from 2027. Part of the manufacturing steel process by blast furnace will be replaced by hybrid electric steel. Also, the research will include recycling byproducts into the production process and a circular economy to ease the climate impact of steel production.
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