Who is Blastr, the preferred buyer for the SSUK steelworks?

Blastr is a Norwegian startup owned by Vanir Green Industries, an investor in renewable industries, and is developing a green hydrogen steel production site in Finland.

When did the SSUK steelworks come under official receiver control?

The SSUK steelworks, formerly Liberty Steel, has been under the official receiver's control since August.

What is the significance of the exclusivity period for Blastr's bid?

The exclusivity period, lasting five weeks, initiates intensive purchase negotiations for the SSUK sites.

Home / Business and Economy / Norway Startup Eyes UK Steelworks

Norway Startup Eyes UK Steelworks

15 Apr

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Summary

UK enters exclusive talks with Norwegian startup Blastr.
Blastr preferred buyer for South Yorkshire electric arc furnace.
SSUK steelworks under official receiver's control since August.

The UK government has entered exclusive talks with Norwegian startup Blastr regarding the purchase of the former Speciality Steel UK (SSUK) works in South Yorkshire. This move is seen as a significant step toward rescuing the business.

Blastr is understood to be the preferred bidder of the official receiver for the UK's largest electric arc furnace in Rotherham and associated sites in Stocksbridge. SSUK has been under the official receiver's control since August, following its previous owner's loss of control in London's high court.

The exclusivity period is set for five weeks, initiating intensive purchase negotiations. Blastr, owned by Vanir Green Industries, is an investor in renewable industries and is developing a green hydrogen steel production site in Finland. Mark Bula, who leads Blastr, has extensive experience in the steel industry.