Sweden – Apart from Hybrit, another Swedish project aims to produce fossil free steel. H2 Green Steel will produce five megatons of CO2-free steel and mobilize 2.5 billion euro investments. The industrial initiative will build the world’s first large-scale fossil-free steel plant in Boden-Luleå, north Sweden, using green hydrogen.
The industrial initiative, which is backed by EIT InnoEnergy creates a new green steel producer from inception (green field). The integrated business case includes cheap renewable power, use of green hydrogen to process the iron and innovative downstream steel manufacturing. The initiative, which mobilizes some 2,5B€ worth of investments, will create 10,000 direct and indirect jobs.
Large-scale production will start as early as 2024; and the annual throughput of 5 million tons of high-quality steel is planned to be reached by 2030.
Green hydrogen is a high potential enabler for transforming Europe’s energy, industrial and transport sectors, and a means for decarbonising energy intensive industries like steel. Steel is responsible for eight percent of global carbon dioxide emissions annually – making it one of the biggest carbon emitters. As a proven low emissions heat and power source, green hydrogen is well-positioned to become a central piece of the EU’s climate neutral ambitions.
Green Hydrogen Acceleration Center
The H2 Green Steel Initiative is the first flagship project of the European Green Hydrogen Acceleration Center (EGHAC) which is spearheaded by EIT InnoEnergy with the support of Breakthrough Energy. EGHAC was set up to serve as a key enabler of industrial value chains and clean tech innovation, with the aim of developing an annual €100B green hydrogen economy by 2025 that could create half a million direct and indirect jobs across the green hydrogen value chain.
Cheap renewable energy
The location for H2 Green Steel – the Norrbotten region – offers favourable conditions for fossil-free steel production with ready access to cheap energy from renewable energy sources, high-quality iron ore, a large seaport at Luleå, and a cluster of world-leading expertise in metallurgy and steel production.