Paul Wurth to take a minority stake in Sunfire GmbH - a strategic step towards green ironmaking.

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On 18 December 2018, Paul Wurth has signed up into binding agreements following which it will take a minority stake in the German cleantech company Sunfire GmbH, based in Dresden. 

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07/01/2019 |
  • Paul Wurth

Incorporated in 2010 and employing 130 people, Sunfire develops and manufactures steam electrolysers (SOEC) and high-temperature fuel cells (SOFC). Steam electrolysis splits steam into hydrogen and oxygen. It is particularly efficient and is powered by renewable electricity. The hydrogen generated can be efficiently converted into crude oil substitutes via the Sunfire Power-to-Liquid process as well as being used directly in hydrogen powered mobility or industrially. Rewarded as one of the world’s most innovative companies, Sunfire has recently joined the European Hydrogen Initiative.

Paul Wurth’s participation in Sunfire is a key element in the company’s overall strategy to lead the transformation towards carbon-free iron ore reduction and become a leading partner also in green ironmaking.

Besides Paul Wurth’s present efforts to offer tailor-made short and mid-term solutions that help steel producers to stepwise reduce their CO2 footprint in the traditional blast furnace route, Paul Wurth is committed to develop long-term future-oriented solutions for the Iron & Steel industry. One scenario thereof is H2 based ore reduction, where green hydrogen becomes a main substitute for carbon. In this respect, the co-operation with Sunfire will give Paul Wurth access to a specialist team in the field of hydrogen production as well as to a promising technology with high development potential in the Iron & Steel industry. Additionally, it will open up new markets for diversification as the substitution of fossil fuels by so-called e-fuels concerns many other industries and activities, especially heavy load transportation by trucks, ships and airplanes.  

Paul Wurth’s green ironmaking strategy is fully in line with the Luxembourg Government’s initiatives defined in the frame of the “third industrial revolution” and focusing on the challenges regarding energy, mobility, industry or circular economy, amongst others.

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