H2 Green Steel eyes fossil fuel-free steel production in 3 years
2021-02-24 11:16:08 [Print]
Swedish steel venture H2 Green Steel is planning to build a fossil fuel-free steel plant in the north of Sweden, including a sustainable hydrogen facility, with production starting in 2024, it said on Tuesday.
The Lulea-based venture, which is in the process of closing 50 million euros ($60.7 million) in series A equity financing, said in a statement that by 2030 it plans to have an annual production capacity of 5 million tonnes.
"The project includes a giga-scale green hydrogen plant as an integrated part of the steel production facility," it said. Total financing for the project's first phase is around 2 . 5 billion euros, which will be raised through a combination of equity and green project financing, it added.
The Lulea-based venture, which is in the process of closing 50 million euros ($60.7 million) in series A equity financing, said in a statement that by 2030 it plans to have an annual production capacity of 5 million tonnes.
"The project includes a giga-scale green hydrogen plant as an integrated part of the steel production facility," it said. Total financing for the project's first phase is around 2 . 5 billion euros, which will be raised through a combination of equity and green project financing, it added.