Lower Saxony and Bremen
Georgsmarienhütte boss: Customers want green steel
03/10/2022 8:14 am
Georgsmarienhütte (dpa/lni) – The Lower Saxony steelmaker Georgsmarienhütte (GMH) is driving the conversion process to CO2-free production and sees a market for green steel. “As of today, customers want green steel, but they no longer want to pay for it,” Alexander Becker, CEO of the GMH Group, told “Neue Osnabrücker Zeitung” (Thursday). However, he believes this will change, especially as investor pressure is mounting.
However, customers would have to be competitive worldwide. “That means if they pay more for steel in Germany or Europe and customers in the US and Asia aren’t interested, it’s not worth it. We still have work to do there.”
Industry and business would have to work together to make renewables expand. “We want to invest and build a wind farm ourselves or participate, preferably close to the location here in the region for our steelworks.”
Becker pointed out that the electricity requirement in the GMH Group is around one terawatt hour per year. For comparison, the whole of Germany consumes around 507 terawatt hours and the city of Osnabrück is 0.85. “In this sense, the electric mix is key to climate neutrality for us.”