Speira Unveils Major Investment in High-Efficiency Aluminum Recycling Furnace

One of the largest industrial investments in the Norwegian province of Vestfold is now coming to fruition, with Speira committing over NOK 400 million to a new furnace. This major project, set to install the furnace at Speira’s Holmestrand foundry, will be extensive and is anticipated to be completed by summer 2026.

“This investment ensures long-term job security in Holmestrand. The current furnace has been operational for 50 years, and the new one is projected to last at least another 50 years. This is excellent news,” says Jon Gaasholt, plant manager at Speira Holmestrand.

Speira's supervisory bodies have approved an investment of NOK 414 million for a new furnace at the Holmestrand foundry, fulfilling a long-held wish. The new furnace will allow Speira Holmestrand to process an additional 22,000 tons of scrap annually, enabling the company to base approximately half of its production on recycled materials. This initiative will lower Holmestrand's carbon footprint by 150,000 tons of CO2. Additionally, the furnace will lower NOx emissions and odors from the site and is designed for a future transition to non-fossil energy, further decreasing emissions.

Gaasholt emphasizes, "Our aim is to establish a benchmark for sustainability within our industry. We prioritize our connection to the local community and recognize our role in fostering a sustainable future. Optimizing production, processing, and recycling are pivotal in achieving this goal."

Since spinning off from Hydro in 2021, Speira has embarked on a series of investments across Norway, totaling nearly NOK 600 million over the past three years. This includes acquiring state-of-the-art equipment at both the Holmestrand and Karmøy facilities. Alongside the new furnace, the company has also enhanced multiple production lines.

"The investment in new equipment is essential for Speira to maintain its competitive edge in the future," says the plant manager. Gaasholt notes that Speira is entering a period of heightened activity: "We have a highly skilled team, and it's inspiring to witness our dedicated employees working diligently to ensure our ongoing success. I take pride in showcasing the achievements we make here in Holmestrand."

Speira's mission is to create a circular world that functions sustainably. This core belief is the company's moral imperative and purpose for existence, extending beyond mere business growth. The company pushes the boundaries of aluminum rolling and recycling, innovating to create sustainable products and solutions that promote circularity and benefit both the planet and its business. The company's vision inspires and drives progress. By 2030, it strives to lead the industry and set benchmarks in sustainability, delivering high-quality, low-carbon products through its top-tier rolling and recycling capabilities.