Swedish company H2 Green Steel has signed a 7-year agreement with Italian steelmaking group Marcegaglia for the supply of green steel from its plant in Buden (Sweden) to Marcegaglia's plants in Southern Europe, the UK and Poland.
The transaction is valued at approximately EUR 1.79 billion. Marcegaglia was both an investor and the first customer of H2 Green Steel. Currently the partnership has gained a more long-term development.
"We believe in the partnership approach in business and we took this approach with H2 Green Steel from day one because they are an important element for us in our decarbonisation journey, which is essentially about future-proofing our business," said Antonio Marchegalia, Chairman and CEO of Marcegaglia Steel.
According to Henrik Henriksson, CEO of H2 Green Steel, this agreement is a milestone for the company, not only because of its value, but also because of the cooperation with Marcegaglia, a strong player in the steel industry.
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