h2 green steel
Powering a new, clean industrial revolution
Carl-Erik Lagercrantz, Vice Chairman
Cleaning up steel is key to tackling climate change. As one of the world’s dirtiest industries, it is responsible for more than 7 percent of global CO2 emissions. H2 Green Steel will enable sustainable steelmaking by bringing emissions close to zero. The company is headquartered in Stockholm, Sweden, with its first green steel plant under development in Boden, northern Sweden. Using green hydrogen instead of coal in the production, water and heat will become the main by-products.
H2 Green Steel aims to build one of the world’s largest electrolysis plants, powered by green hydrogen produced with fossil-free energy. And steel is only the beginning – the company’s expertise in green hydrogen is an enabler for decarbonising other heavy industries as well.
And we will start with steel. By responding to challenges in heavy-polluting industries with speed and action, we will contribute to reaching the Paris Agreement. The demand for green steel has been validated by a solid customer-base, proving that sustainability and profitability go hand in hand
reduction in CO2
Compared to traditional steel making
Production at Boden plant set to begin
Estimated annual green steel output from Boden plant 2030
More than half of the initial green steel capacity
h2 green steel timeline
Building an impact company with sustainability at its core – for our people, customers, investors and planet.
H2 Green Steel raises €260 million in equity and €3.5 billion in debt
Cooperates with GreenIron H2 to achieve further emission reduction and increased circularity in Boden plant
H2 Green Steel raises €190 million in Series B equity
Signs agreement with BMW
H2 Green Steel and BMW Group signs final agreement on delivery of CO2 reduced steel
Joins forces with Hitachi Energy
H2 Green Steel and Hitachi Energy collaborate on project that support production of green steel
H2 Green Steel’s plant in Boden, Sweden, is approved by the environmental court and construction groundwork starts at the site
10 million tonnes of green steel is pre-sold
H2 Green Steel launches €2.3 billion green hydrogren venture with Iberdrola
H2 Green Steel completes $105 million initial funding round
H2 Green Steel is launched
With the purpose to decarbonise hard-to-abate industries, starting with steel
The business case for H2 Green Steel, including green steelmaking and hydrogren, is validated by Vargas
This is the start of a new and clean industrial revolution where large-scale green hydrogen production will enable necessary reductions in harmful emissions from heavy industry. We are doing this to realise a better, cleaner future for the planet.