Outokumpu has completed a feasibility study on using small modular reactor (SMR) technology to enhance low-carbon energy availability near its largest stainless steel plant in Tornio, Finland. The study confirmed the project’s viability with no major obstacles, and Outokumpu is now seeking external investors to independently develop the project.
The study assessed technical solutions, regulatory implications, and environmental factors, concluding that SMR technology is sufficiently advanced. Tornio’s cold climate and access to sea cooling water provide additional advantages. Finland’s evolving nuclear legislation is also expected to support such developments.
Decarbonizing heavy industries requires large amounts of clean energy, and nuclear power plays a key role in Finland’s energy mix, ensuring baseload supply and price stability. SMRs offer a faster and more flexible alternative to large-scale nuclear projects, supporting industrial electrification and clean transition investments like carbon capture & utilization (CCUS).
Energy accounts for about 10pct of Outokumpu’s costs, making nuclear power a strategic option as the company remains Finland’s largest electricity consumer.
