Finnish stainless steel producer Outokumpu announced that it had signed a Memorandum of Understanding (MoU) with Scandinavian clean energy company Fortum to explore the decarbonization of Outokumpu's steel manufacturing operations using the emerging nuclear technology, Small Modular Reactor. The two companies will identify potential business models and technical solutions for potential investment decisions.

Outokumpu indicated that the research into emerging technologies in energy supply was a natural step in the company's ambition to reduce carbon emissions. In addition to wind, solar, and hydropower, energy-intensive industries need stable and carbon-free power generation. Nuclear energy is currently the only option. Therefore, as part of its sustainability journey, the company is pleased to explore the possibilities offered by small modular reactors together with Fortum.