The idea of building a new green steel company came from dialogues with large, European automotive manufacturers which revealed a demand for green steel. Shortly after, demand was also raised from other industries such as construction and industrial appliances, where steel is a significant part of their products. In addition to strong customer demand, H2 Green Steel was made possible through the availability of technology and process innovations and the willingness from policymakers and investors to support the green transition.
– Our customers are frontrunners in their respective industries, striving towards a green transition and need to reduce the emissions in their entire value chain. The dialogue with them has been proof of the need for a green steel product and spurred us to build our green steel company, says Maria Persson Gulda, CTO of H2 Green Steel.
1.5 million tonnes pre-sold steel
H2 Green Steel was founded in 2020 by the entrepreneurs behind Vargas Holding, who are also co-founders of another successful sustainable venture in northern Sweden – Northvolt.
– We are using the same model to finance our project as Northvolt. We call it the Foundry Model which means we partner with our customers and suppliers in a joint mission to make this project happen. As an important part of our concept, we have designed our manufacturing facility to be custom made to our customer dialog and have already presold 1.5 million tonnes of green steel volumes to our direct customers, says Maria Persson Gulda.
Unique location
With an already strong customer demand, H2 Green Steel was looking for an optimal location for the green steel plant. The core of the green steel process is the production of hydrogen from renewable electricity to replace coal, which is traditionally used in the ironmaking process. For this reason, access to vast amounts of green power, together with proximity to iron ore mines and existing infrastructure was crucial when deciding on where to locate. This paired with a progressive and innovative municipality, made Boden the ultimate choice.
As a sustainable company, H2 Green Steel takes a great responsibility to develop the nearby area.
– When building a new industry close to society, we need to do it not only with great respect for nature, but also in close collaboration with the people of Boden, declares Maria Persson Gulda.
By 2030, H2 Green Steel will produce five million tonnes of green steel annually.
– We want to show the world it is possible to decarbonize a 100-year-old industry. We would like to consider ourselves as the Tesla of steel, concludes Maria Persson Gulda with a twinkle in her eye.
Welcome to join us at Hydrogen Europe Flagship Event & Expo in Brussels 25-28 October
H2 Green Steel will together with Invest in Norrbotten and several actors from North Sweden, all a part of the green hydrogen ecosystem, attend Hydrogen Europe Flagship Event & Expo in Brussels!
Together we will show you the potential of our region and our emerging ecosystem for green hydrogen based on low cost green energy, technical expertise, successful and innovative companies and a long history of successful industrial establishments. We will show you how we can decarbonize the impossible with initiatives that are already ongoing in our region as well as future projects – all with the aim to lower the global CO2 emissions.
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