Norwegian green‑steel startup Blastr has been named the preferred bidder for the insolvent Speciality Steel UK, the former Liberty Steel assets in South Yorkshire. The Official Receiver confirmed an exclusivity period, kicking off a five‑week window to seal the deal. Blastr beat rival offers from Arabian Gulf Steel Industries and 7 Steel UK, positioning it to acquire the Rotherham and Stocksbridge plants.

Speciality Steel entered compulsory liquidation last August after a judge declared it “hopelessly insolvent,” prompting the government to step in as Official Receiver. State funds have kept the works running and paid salaries for roughly 1,500 employees while restructuring advisers Teneo act as special manager. The sale would transfer ownership of the two sites and any remaining assets.

Unions welcomed the appointment, arguing that a clear buyer secures jobs at the strategic South Yorkshire assets. The decision arrives as the UK rolls out a new steel strategy, featuring import tariffs and a £500 million subsidy for Tata Steel, while debating full nationalisation of British Steel. Blastr’s win could anchor a low‑carbon supply chain in Europe, reshaping domestic steel capacity.