Steel Plantech, a Japanese steel plant engineering company, has revised its management plan upwards, aiming for orders worth JPY 35 billion (more than $270 million) till the end of 2023. The shift of the steel industry towards carbon neutrality has been faster than expected and demand for the company’s Ecological and Economical Arc Furnace (ECOARC) series is increasing rapidly.
Although there is strong uncertainty around the situation in Ukraine, the order target for FY’23 is set at JPY 50 billion and the order amount for electric furnaces is expected to be JPY 27 billion. The company’s President Nobuyuki Nada said, “The shortage of engineers is an issue for expanding the electric furnace business. We would like to focus on training and strengthening next-generation human resources.”
The engineering firm has expanded the line-up of the ECOARC series and entered the induction furnace segment through a partnership with Inductotherm Group Japan. In addition, proposal-based sales are expanding with the development and launch of “smart products” that utilise AI / IoT technology that has been under development. A solution-type upgrade business model has emerged that solves customer problems related to productivity, quality and failure rate.
There are many enquiries about “smart products” such as continuous casting machines and strip rolling mills. This year, the company will support smart hotspot control of electric furnaces, AI control of electrodes, ladle work, etc. It is also developing a packaging robot.
High-efficiency furnace
ECOARC comes with innovative technology such as an advanced scrap preheating technology that eliminates the white smoke and foul odours generated when melting scrap metal, and addresses environmental requirements of the future. It is equipped with melting technology that achieves higher productivity than conventional electric arc furnaces.
Installation of ECOARC can ensure early recovery of investment costs, and an increase in revenues. Although, the installation of the preheating system would increase initial costs in the short term, it will provide high investment returns.
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