Outotec and Real Time Systems Oy developing energy-efficiency electric arc furnace systems
Outotec has agreed with Finland-based Real Time Systems Oy on cooperation in the development of a new-generation measuring and regulating system for electric arc furnaces, which are used by steel mills in the production of steel from steel scrap. Outotec reckons that the overall savings gained with the new product will be significant for the furnace operators. Outotec is funding the development work, will become a minor shareholder of Real Time Systems Oy and also has a call option on the company.The development work of the measuring and regulating system is expected to take one year and the first new system will be installed on an electric arc furnace in 2010. The new product will provide accurate real-time measuring results and regulate the furnace operations, thus reducing electric energy and maintenance costs, shortening throughput time as well as increasing the furnace capacity.Real Time Systems Oy will market the new product and provide services to furnace operators including installation and commissioning, product training, maintenance services as well as remote system monitoring."There are more than one thousand electric arc furnaces globally and their share in steel production is set to increase. The cost saving benefits offered by the new measuring and regulating system will secure lucrative markets for this new product. Cooperation with Real Time Systems is also in line with our plans to grow the Services business," says Tapani Järvinen, CEO of Outotec.