H2 Green Steel’s newly established company stated in a press release on February 23 that northern Sweden provides unique conditions for fossil-free steel production. The region has the largest iron mine in Europe, has a large amount of renewable energy, including hydropower and wind power, and is a center of zero-emission industrial process know-how.

Accelerate the transformation of the European steel industry

"Electrification is the first step in reducing carbon dioxide emissions in the transportation industry. The next step is to use high-quality fossil-free steel to make cars."

The largest shareholder of H2 Green Steel is Vargas, which was established last year. This is an investment company co-founded with Nortvolt. It is currently building Europe's largest battery factory in Skellefteå, northern Sweden.

Another partner in the project is Scania, a manufacturer of heavy trucks, buses and trucks.

"A Scania truck weighs about 6 tons, five of which are steel, but unfortunately, the carbon footprint of today’s production is large. Through investment and cooperation with H2 Green Steel, we are now further accelerating the entire value chain. The development process of emission products." Scania Executive Vice President Anders Williamsson said.

He added: "This is an ambitious ambition that will not only help Scania achieve the goals of the Paris Agreement, but it will also further raise this threshold."

H2 Green Steel stated in his speech that the important source of inspiration for the new plant is the existing HYBRIT project outside Luleå in northern Sweden. Companies such as SSAB, LKAB and Vattenfall are jointly building a pilot plant for the production of CO2-free steel. . Iron ore at LKAB's Kiruna mine.

Today, the EU’s steel industry’s carbon dioxide emissions are approximately half of all EU cars. The steel production plant will be powered by the world's largest green hydrogen plant. 800 MW

Steel production is scheduled to start in 2024 and will increase to 2.5 million tons by 2026, and will further reach a production capacity of 5 million tons by 2030. After the plant achieves full production, it will create 3 billion euros of added value for Norrbotten’s net exports. H2 Green Steel said it will directly employ 1,500 people and there will be 8,500 indirect jobs in the area. Editor/Xu Shengpeng