en.Wedoany.com Reported - Canada Nickel (TSXV: CNC) has signed a Memorandum of Understanding with RWE Supply & Trading (RWEST) to explore a strategic partnership aimed at supporting the commercialization of low-carbon steel products in North America and Europe.

Under the MOU, the two companies plan to develop sales strategies for semi-finished steel, alloys, and stainless steel products. RWEST stated that it will provide compliance support to Canada Nickel, assisting its Net Zero Metals subsidiary in meeting the requirements of the European Union's Carbon Border Adjustment Mechanism (CBAM).

Mark Selby, CEO and Director of Canada Nickel, said that the implementation of CBAM has raised carbon costs in the EU, and combined with ongoing energy price volatility in Europe, has created a real demand for stable energy supplies and low-carbon steel. He revealed that both parties hope to finalize a definitive agreement later this year.

Marc Milligan, a senior member of the RWEST team, noted that this partnership is "fully aligned" with the company's long-term strategy. He stated that low-carbon steel is critical for the planned expansion of offshore and onshore wind power capacity, while high-quality low-carbon nickel is indispensable for battery production and supporting the EU's battery energy storage development.

RWEST, a wholly owned subsidiary of the RWE Group, operates as the group's trading division. With approximately 2,000 employees and 14 trading offices worldwide, it is one of Europe's largest green energy traders.