Thyssenkrupp Steel to supply eco-friendly steel to tk Materials

Tk Materials operates independently of the steel division and has the right to choose its own suppliers

Thyssenkrupp Steel Europe will sell environmentally friendly steel to Thyssenkrupp Materials Services (tk Materials), the companies have signed a memorandum of understanding. This is stated in the message of tk Materials.

Both companies are divisions of the German Thyssenkrupp AG. However, tk Materials operates independently of the steel division and has the right to purchase steel products from any supplier.

Thyssenkrupp Schulte, the German subsidiary of tk Materials, is committed to immediately purchase a fixed amount of bluemint® steel with a reduced carbon content. The volume of these products will gradually increase in the following years. The purchase agreement runs until 2030 inclusive. Tk Schulte will supply the products not only to customers in the German domestic market, but also to other warehouses in Western and Eastern Europe.

According to Detlef Schotten, CEO of tk Schulte, due to greater demands on the sustainability of business processes, customer demand for alternative steels with reduced CO₂ emissions is growing, and this trend will continue to expand in the coming years.

As part of its Beyond sustainability strategy, tk Materials has set a goal to become carbon-neutral by 2030 (Scope 1 and 2 emissions). In addition, an important component of the company’s sustainability activities is to promote the decarbonization of its customers’ supply chains (Scope 3 emissions).

As GMK Center reported earlier, Thyssenkrupp Materials Services and CarbonChain, a British software solutions provider, have announced a partnership. The companies will promote the procurement of metals using a new carbon tracking tool.