From this perspective, LIFE 4 Green Steel has shown that it’s possible to make "nearly finished" components (in this case, steel cogs) via a series of "compaction" steps. This technique increases the utilization coefficient of the raw materials by up to 95% and reduces waste by at least 50%. There’s also a 70% reduction in lubricant use, with a general increase in energy efficiency of 50% compared to a traditional process.
The LIFE 4 Green Steel project is co-funded by the European LIFE program, the European Union’s financial tool for the development of projects for the environment, nature conservation and climate change containment. During the 2014-2020 plan (to which the LIFE 4 Green Steel project belongs) the LIFE program financed over 5,500 projects throughout the EU, delivering resources valued at over €4 billion and driving investments worth over €9 billion.