Pohang Holdings collaborates with American innovation companies to develop low-carbon ironmaking technology

On April 28th, Pohang Holdings announced on its official website that it has signed a joint development agreement with American technology company Electra to jointly develop low-carbon ironmaking technology.
According to the agreement, both parties plan to combine Pohang Holdings' direct reduction technology with Electra's low-carbon ironmaking systematic process to jointly promote commercial production and economic feasibility verification.
Kim Keun hwan, the president of Pohang Holdings' investment company, introduced that the signing of this agreement is also an investment, which is Pohang Holdings' first overseas strategic enterprise venture capital in the low-carbon steel field.
Sandeep Nijhawan, co-founder and CEO of Electra, said, "Pohang Holdings has rich experience in steelmaking, production technology, and process development. We are committed to long-term development, and this cooperation will help us steadily expand our scale and bring clean iron to more customers
Electra was founded in Colorado, USA in 2020 and has proprietary technology for removing impurities from iron ore and producing solid iron through electrochemical reactions.
On April 27th, Pohang Holdings officially announced that in order to strengthen cooperation with excellent local suppliers in China and maximize procurement competitiveness, the group has established a comprehensive procurement center in Shanghai, China, which has been officially put into operation.
It is reported that on the day of the opening ceremony, representatives from 13 major local suppliers, including Ouye Yunshang, Baowu Resources, and China Steel Group, attended the event. The procurement center will provide comprehensive solutions covering procurement, sourcing, contract signing, and risk management between the headquarters and overseas subsidiaries.
Pohang Holdings stated that China has always been regarded as a core hub for the sustained growth of high-performance suppliers. Pohang Holdings Group has strengthened its cooperation with excellent local suppliers in China by establishing a comprehensive procurement center in Shanghai, thereby enhancing its competitiveness in the global supply chain. The comprehensive procurement center will also serve as a platform connecting the headquarters and overseas subsidiaries, providing a comprehensive solution that integrates sourcing, contracting, and risk management. Through this move, Pohang Holdings Group plans to connect the global networks of Pohang and Gwangyang steel plants in South Korea, as well as Indonesia, Vietnam, Argentina, and other places, to build a stable supply chain, and actively promote new products and technologies.