The company has announced that it has signed a grant agreement worth 250 million EUR for carbon-free activity projects through the Innovation Fund via the European Climate, Infrastructure and Environment Executive Agency (CINEA).
Due to strong customer demand for green steel, Sweden-based H2 Green Steel has taken decisive steps to expand its project portfolio, identifying four major projects in the preliminary feasibility stage. It’s known that these projects are located in Quebec, Texas, Brazil, and Portugal.
Vice President of Growth and Hydrogen Business, Kajsa Ryttberg-Walgren, stated at the World Hydrogen Summit in Rotterdam that the mentioned projects are nearing the permitting stage.
The company's pioneering project, expected to begin production in 2026, will be located in Boden and aims to deliver 5 million tons of green steel to the market by 2030. Sources reported that this project, with a financial closure of 6.5 billion euros (7.03 billion dollars), plans to produce 100,000 tons of green hydrogen annually using 750 megawatts of renewable energy. Additionally, it is noted that countries like Namibia, South Africa, and Brazil have plans to export decarbonized steel to Europe and other regions with the use of green hydrogen.
The International Energy Agency (IEA) predicts that this new method of steel production could reduce emissions significantly by 95% in the sector, which currently accounts for 8% of global carbon emissions.
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