Norwegian Startup Blastr in Exclusive Talks to Buy Former Liberty Steel Works
UK officials have entered exclusive five-week negotiations with Blastr, a Norwegian startup owned by Vanir Green Industries, to acquire the former Liberty Steel assets in South Yorkshire. The UK government’s official receiver reportedly prefers Blastr as the buyer for Speciality Steel UK (SSUK), which includes the country’s largest existing electric arc furnace in Rotherham and additional facilities in Stocksbridge. SSUK has been under state control since August 2025, following a High Court ruling that declared the business hopelessly insolvent after previous owner Sanjeev Gupta lost ownership due to chronic cash shortages. This potential sale represents a significant step toward rescuing the sites and alleviating governmental burden, distinct from ongoing nationalization efforts at British Steel in Scunthorpe. Although Blastr does not currently operate steel plants, it is developing green hydrogen iron production in Finland and is led by industry veteran Mark Bula. Union representatives have welcomed the development but emphasized the need for due diligence to guarantee long-term operational stability and job security for workers who have faced years of uncertainty.
Wire timeline
Norwegian Startup Blastr in Exclusive Talks to Buy Former Liberty Steel Works
UK officials have entered exclusive five-week negotiations with Blastr, a Norwegian startup owned by Vanir Green Industries, to acquire the former Liberty Steel assets in South Yorkshire. The UK government’s official receiver reportedly prefers Blastr as the buyer for Speciality Steel UK (SSUK), which includes the country’s largest existing electric arc furnace in Rotherham and additional facilities in Stocksbridge. SSUK has been under state control since August 2025, following a High Court ruling that declared the business hopelessly insolvent after previous owner Sanjeev Gupta lost ownership due to chronic cash shortages. This potential sale represents a significant step toward rescuing the sites and alleviating governmental burden, distinct from ongoing nationalization efforts at British Steel in Scunthorpe. Although Blastr does not currently operate steel plants, it is developing green hydrogen iron production in Finland and is led by industry veteran Mark Bula. Union representatives have welcomed the development but emphasized the need for due diligence to guarantee long-term operational stability and job security for workers who have faced years of uncertainty.
The Guardian