NEW YORK and DÜSSELDORF, Germany, March 28, 2023 /PRNewswire/ -- Fero Labs, a factory optimization software company, today announced its partnership with CELSA Nordic, part of Celsa Group, a leading European manufacturer of circular and low-emission steel. In a pilot program with the group's Norway plant, Fero Labs' white-box machine learning algorithms demonstrated the ability to reduce emissions and costs by making production more efficient.
For steel and iron, which comprise 95% of metal tonnage produced annually around the world, raw material and alloy costs are a constant challenge. As prices continue to surge due to the global supply chain crisis, steelmakers are turning to technology for answers.
"We are always looking at how to improve our production processes to be more sustainable, to lower costs, and to be more competitive in an international market," said Utku Öner, CEO of CELSA Nordic. "Fero helps us tackle both goals at the same time. This implementation will significantly enhance our operations, and if it delivers on expectations, we can implement it in our sister mills across Europe."
CELSA Nordic adds alloys to their steel to make sure their rebar products meet the quality standards in the Nordic market. Fero Labs' software analyzes each batch while it's still in the melt shop and recommends the optimal amount of alloys to add, reducing waste and costs. Other use cases intended to be explored during deployment include improving yield, optimizing energy consumption, and minimizing defects.
"The steel industry is continuing to grow immensely and we're happy to help manufacturers such as CELSA Nordic take on challenges that come with producing steel," said Berk Birand, co-founder and CEO of Fero Labs. "With rising raw material costs, lower demand, and the need to downsize workforces to maintain profitability, it is imperative that plant operators are equipped to quickly identify solutions for production issues while operating at peak performance at all times."
To learn more about Fero Labs, please visit ferolabs.com.
About Fero Labs
Fero Labs makes factory optimization software that is powering the next wave of industrial manufacturing. Headquartered in New York, Fero Labs aligns with leading global manufacturers to increase profitability and sustainability at the same time. Since launching in 2015, Fero software has provided industrial customers an average ROI of 233% and saved 200 million pounds of CO2 emissions. Follow us on LinkedIn.
About CELSA Nordic
Celsa Nordic is part of CELSA Group International, a leading producer of low-emission, circular steel and the largest circular supply chain in Europe. The company provides the most sustainable and climate-efficient reinforcing steel available and consists of Celsa Armeringsstål -the leading producer of reinforcing steel in the Nordic region with a smelter and a rolling mill located in Mo i Rana, Celsa Steel Service, and Celsa Nordic Recycling -that operates in Norway, Sweden, Finland, and Denmark.
The company recycles ferrous scrap to produce steel in electric arc furnaces, using the most sustainable technology and energy based on clean, renewable hydropower. With 1 114 own and subcontracted employees, Celsa Nordic produced over 800 000 tonnes of steel and recycled almost 900 000 tonnes of scrap in 2022.
Across Celsa Nordic and other 5 business groups, CELSA Group is present in Spain, France, Poland, UK, Ireland, Norway, Denmark, Finland, and Sweden. It has 120 work centres, 7 steel mills, 10 rolling mills and 45 recycling plants, as well as transformation and distribution companies, which generate direct, indirect, and induced employment for more than 70 000 professionals.
Celsa Nordic and CELSA Group work together to become part of the solution to the significant systemic risks on the planet, by contributing to the mitigation of both: climate change and the depletion of natural resources, through circularity and by becoming a Net Positive company by 2050.