The National Bank for Economic and Social Development (BNDES) of Brazil has approved the financing of Vallourec Tubos do Brasil’s investment in the modernization of its charcoal production process, used in the production of steel, for an amount in local currency equivalent to about 11 million dollars.

This is the first operation related to a charcoal project with resources from the Climate Fund, a program linked to the Ministry of Environment and Climate Change (MMA) that finances climate change mitigation projects. The continuous vertical reactor technology for charcoal production developed by Vallourec generates zero methane emissions, is compatible with sustainability requirements and adheres to the Group’s greenhouse gas reduction strategies.