Burckhardt Compression recently partnered with one of Europe's leading steelmaking mills undergoing a significant transformation. The mill aimed to convert one of its plants into a sustainable facility in compliance with stringent environmental guidelines. The project's critical aspect involved reviving four non-Burckhardt compressors that had been inactive for a decade. Acknowledging the crucial role of these compressors in steel production, the mill sought the expertise of Burckhardt Compression.
Schaeffler, the motion technology company, and Swedish startup H2 Green Steel have decided to intensify their already close partnership. The two companies made the decision in the course of a recent equity funding round, in which Schaeffler agreed to invest a further 65 million euros, a significant increase that takes its total stake to 100 million euros. That’s the most equity Schaeffler has ever put into a minority stake in another company. As a strategic technology partner of H2 Green Steel, Schaeffler will channel its know-how into the development of new steel products, such as green e-steel for electromobility. In addition, the two companies will jointly develop new applications for the use of sustainable rolling bearing solutions in production. The aim is to maximize the efficiency of production through the use of first-rate components and integrated condition monitoring solutions. The two companies will also benefit from each other’s expertise in the areas of digitalization and circular economy.
How do gearbox and gear drive providers navigate the interesting challenges found in steel, cement, paper, and construction applications? Apparently, one application at a time. Thanks to condition monitoring technology, IoT solutions and the flexibility of engineering teams today, plant downtime is not as problematic as it has been in the past. The secret to success in heavy industrial markets comes down to staying ahead of component failures.