According to a news release from Aichi Steel, a Japanese steel manufacturer, it will invest approximately 1 billion yen to renovate the furnace frame and control system at its No. 1 50-ton stainless steel electric furnace at the first step of the planned three steps.

As a part of the 2030 prospect, Aichi Steel aimed to increase the production capacity of stainless steel by 40% or 90,000 tons compared to 2019’s level by 2026 in order to meet the growing demand for realizing a hydrogen society.