In a signed MOU, the companies have defined their joint approach: Salzgitter AG and Ørsted aim to establish closed value chains in their business relationships.

In addition to the supply of offshore wind power and the use of renewable hydrogen, the production of low-carbon steel and its use in the components for Ørsted's offshore wind farms are included. There are also plans to recycle scrap from decommissioned wind turbines into the steel production process.

"The drive in society for climate neutrality is our incentive for the rapid further development of the company with a focus on circularity, the principle of low-carbon and resource-saving closed value chains. We’ll anchor this firmly in our partnerships," said Gunnar Groebler, Chairman of the Executive Board of Salzgitter AG. "Together, we want to provide the necessary impetus for change and successfully drive it forward. The partnership with Ørsted is an important element in the formation of our partner network. Together with Ørsted, we’re showing that circularity is becoming a reality on an industrial scale."

"We have a target of making our own operations climate-neutral by 2025, thereby becoming the first major energy company to reach net-zero emissions," said Martin Neubert, Chief Commercial Officer and Deputy Group CEO at Ørsted. "We want to achieve the same for our indirect carbon emissions by 2040. As a supplier of green power and as a large offtaker of steel, we consider the partnership with Salzgitter AG a great opportunity to move a step closer to reaching this target. A circularity partnership like the one we’re striving for will set the trend for the decarbonization of the German industry. And offshore wind power is one of the most important levers to achieve this.”