Swedish company receives funds for the production of decarburized steel

Swedish H2 Green Steel has announced that it has received 199 million euros to develop the production of decarburized steel using renewable hydrogen.

H2 Green Steel is building its first green hydrogen steel plants in Boden, northern Sweden. By 2023, its annual production should reach 5 million tons.

H2 Green Steel said it had pre-sold about 60% of its initial steel volumes. In addition, it states that car production could reduce carbon emissions by about 60% by using green steel, while the cost would simply increase by 1–2%.