• GE Vernova has secured a contract with SMS Group to provide a modular multilevel converter (MMC)-based direct feed system for SSAB’s electric arc furnace (EAF) at their Oxelösund steel plant in Sweden. This initiative is part of SSAB’s commitment to transitioning to fossil-free steel production.

Paris, FRANCE (Nov 26, 2024) – GE Vernova Inc. (NYSE: GEV) has been awarded a contract by SMS Group to deliver a modular multilevel converter (MMC)-based direct feed system for SSAB’s new 280 MVA EAF. This furnace will be installed in the Oxelösund facility, supporting SSAB’s mission to achieve fossil-free steel production by 2030. The contract, finalized in June 2024, marks a significant step in enhancing the plant’s operational efficiency, longevity, and reducing maintenance costs with advanced technology that supports the shift toward sustainable steelmaking.

Sustainability through Electric Arc Furnace Technology

Traditional blast furnaces, which rely on iron ore and coke, emit about 2.32 metric tons of CO₂ per metric ton of steel. In contrast, the EAF can utilize up to 100% scrap steel, reducing CO₂ emissions to 0.67 metric tons per metric ton of steel. This shift represents a substantial reduction in carbon emissions, aligning with global efforts to reduce industrial carbon footprints.

Jan Heimann, Executive Vice President of SMS Group, stated, “This project marks a critical milestone toward sustainable steelmaking. By utilizing a digital control system for the furnace, SSAB will enhance power quality and efficiency, setting a new industry benchmark.”

Ensuring Power Quality with Advanced Technology

EAFs require substantial electrical energy, which can cause disruptions in the power grid. To mitigate this, GE Vernova’s MMC-based direct feed system integrates advanced injection-enhanced gate transistor (IEGT) technology. This system ensures that the EAF operates smoothly without compromising grid stability. It is designed to maintain high power quality and reliability while minimizing electrical disturbances at the Oxelösund plant.

Ed Torres, Business Leader of GE Vernova’s Power Conversion division, commented, “Our power system was selected for its ability to meet Oxelösund’s stringent electricity quality standards, reducing electrical disturbances and improving efficiency. This marks a crucial step toward reducing carbon emissions in steel production.”

The system features two parallel converter lines located 300 and 400 meters from the EAF, connected directly to the 34 kV bus. This configuration ensures minimal flicker, maintains low harmonics, and achieves a unified power factor.

Project Timeline and Expected Impact

The delivery and installation of the MMC-based direct feed system are scheduled for the first half of 2026, with the first heat of the EAF expected by the fourth quarter of 2026. This timeline reflects SSAB’s strategic approach to accelerating the transition to sustainable steel production while maintaining operational excellence.

Forward-Looking Statements

This document contains forward-looking statements that address matters involving uncertain future events, including GE Vernova’s business and financial outlook. These statements may include words such as “expect,” “anticipate,” and “intend,” reflecting predictions about future transactions, technologies, and market conditions.

About SMS Group

A global leader in metal industry solutions, SMS Group applies over 150 years of expertise in providing innovative products and services. With a focus on sustainable, carbon-neutral processes, SMS supports its customers throughout the lifecycle of their plants, ensuring profitable and resource-efficient value chains. The company, with over 14,000 employees worldwide, is dedicated to fostering the transformation toward a sustainable metal industry.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-driven global energy company that focuses on power, wind, and electrification. With over 130 years of experience, GE Vernova is positioned at the forefront of the energy transition, working to decarbonize the world while continuing to electrify economies. Headquartered in Cambridge, Massachusetts, GE Vernova operates globally with around 75,000 employees in over 100 countries. The company’s Power Conversion business specializes in energy conversion technologies and services that are driving the electric transformation of energy infrastructure.

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