H2 Green Steel receives funding from the Swedish Energy Agency, hydrogen for steelmaking.
H2 Green Steel has received SEK 30 million in funding from the Swedish Energy Agency for early engineering work. With a plant that is the first of its kind, H2 Green Steel will make the steelmaking process close to fossil-free.
The Swedish steel industry is an important source for job creation as well as export, as the engineering and construction material is used in every aspect of our lives – from bridges and infrastructure to cars and home appliances. Meanwhile, the global steel industry accounts for 7-9 percent of carbon dioxide emissions.
Klara Helstad, Head of the Sustainable Industry Unit at the Swedish Energy Agency, said:
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Creating conditions for the steel industry to reduce emissions is crucial to achieve our climate goals.
“Therefore, it is positive that we, through Industriklivet, can participate and support another investment in large-scale steel production based on the use of fossil-free hydrogen.” Thanks for staying up to date with Hydrogen Central.
H2 Green Steel plans to build a new production facility in Boden, Norrbotten, which will enable green steel production and CO2 emission reductions by 95 percent compared to traditional steelmaking. The plant is expected to be in operation by 2024.
Henrik Henriksson, CEO of H2 Green Steel, said:
To drastically reduce emissions from heavy industry requires high ambitions from the business community and public sectors, which is why we are very proud that the Swedish Energy Agency has chosen to support our investment in green steel.
“We are an international team with broad knowledge and expertise that are building a unique environmental project. Sweden has a great opportunity to take the lead in accelerating the transition of the steel industry, on a European as well as global level, and we are happy to lead the way together with Swedish authorities.”
H2 Green Steel receives funding from the Swedish Energy Agency, February 22, 2022
