h2 green steel

Powering a new, clean industrial revolution

Quick info

FOUNDED

2020 by Vargas

ceo

Henrik Henriksson

HOLDING

Majority owner

vargas partners

Harald Mix, Chairman
Carl-Erik Lagercrantz, Vice Chairman

h2greensteel.com

Description

Cleaning up steel is key to tackling climate change. As one of the world’s dirtiest industries, it is responsible for more than 7 percent of global CO₂ emissions. H2 Green Steel will enable sustainable steelmaking by bringing emissions close to zero. The company is headquartered in Stockholm, Sweden, with its first green steel plant under development in Boden, northern Sweden. Using green hydrogen instead of coal in the production, water and heat will become the main by-products.

large-scale

green

hydrogen

production

H2 Green Steel aims to build one of the world’s largest electrolysis plants, powered by fossil-free energy. And steel is only the beginning – the company’s expertise in green hydrogen is an enabler for decarbonising other heavy industries as well.

Our

purpose

is

to

decarbonise

hard-to-abate

industries

And we will start with steel. By responding to challenges in heavy-polluting industries with speed and action, we will contribute to reaching the Paris Agreement. The demand for green steel has been validated by a solid customer-base, proving that sustainability and profitability go hand in hand

Henrik Henriksson, CEO of H2 Green Steel

reduction in CO₂

0 %

Compared to traditional steel making

year

0

Production at Boden plant set to begin

output (tonnes)

0 M

Estimated annual green steel output from Boden plant 2030

Pre-sold (tonnes)

0 m

More than half of the initial green steel capacity

h2 green steel timeline

Building an impact company with sustainability at its core – for our people, customers, investors and planet.

2023

Raises €1.5 billion in equity to build the world's first green steel plant

H2 Green Steel receives full environmental permit for Boden plant

Agreement with Fortum for electricity supply

H2 Green Steel secures carbon-free electricity for up to nine years

New supply agreements with Marcegaglia, Bilstein and SPM

2022

H2 Green Steel raises €260 million in equity and €3.5 billion in debt

‍

Cooperates with GreenIron H2 to achieve further emission reduction and increased circularity in Boden plant

‍

H2 Green Steel raises €190 million in Series B equity

Signs agreement with BMW

H2 Green Steel and BMW Group signs final agreement on delivery of CO2 reduced steel

Joins forces with Hitachi Energy

H2 Green Steel and Hitachi Energy collaborate on project that support production of green steel

H2 Green Steel’s plant in Boden, Sweden, is approved by the environmental court and construction groundwork starts at the site

‍

10 million tonnes of green steel is pre-sold

2021

H2 Green Steel launches €2.3 billion green hydrogren venture with Iberdrola

H2 Green Steel completes $105 million initial funding round

H2 Green Steel is launched

With the purpose to decarbonise hard-to-abate industries, starting with steel

2020

The business case for H2 Green Steel, including green steelmaking and hydrogren, is validated by Vargas

steel

is

only

the

beginning

This is the start of a new and clean industrial revolution where large-scale green hydrogen production will enable necessary reductions in harmful emissions from heavy industry. We are doing this to realise a better, cleaner future for the planet.

Kajsa Ryttberg-Wallgren, EVP Business Unit Hydrogen

news

more about h2 green steel

h2 green steel

Quick info

Description

large-scale

green

hydrogen

production

Our

purpose

is

to

decarbonise

hard-to-abate

industries

reduction in CO2

0

%

year

0

0

0

0

output (tonnes)

0

M

Pre-sold (tonnes)

0

m

h2 green steel timeline

2023

Raises €1.5 billion in equity to build the world's first green steel plant

H2 Green Steel receives full environmental permit for Boden plant

Agreement with Fortum for electricity supply

New supply agreements with Marcegaglia, Bilstein and SPM

2022

H2 Green Steel raises €260 million in equity and €3.5 billion in debt

Cooperates with GreenIron H2 to achieve further emission reduction and increased circularity in Boden plant

H2 Green Steel raises €190 million in Series B equity

Signs agreement with BMW

Joins forces with Hitachi Energy

H2 Green Steel’s plant in Boden, Sweden, is approved by the environmental court and construction groundwork starts at the site

10 million tonnes of green steel is pre-sold

2021

H2 Green Steel launches €2.3 billion green hydrogren venture with Iberdrola

H2 Green Steel completes $105 million initial funding round

H2 Green Steel is launched

2020

The business case for H2 Green Steel, including green steelmaking and hydrogren, is validated by Vargas

steel

is

only

the

beginning

news

more about h2 green steel

H2 Green Steel is the first manufacturing company to join Exponential Roadmap Initiative

H2 Green Steel collaborates with Volvo Group for supply of near zero emissions steel

IKEA and H2 Green Steel sign agreement for the supply of green steel

H2 Green Steel raises €1.5 billion in equity to build the world’s first green steel plant

H2 Green Steel signs multi-year agreement with Vale and Rio Tinto

H2 Green Steel in 1.5 billion Euro agreement with ZF

Scania places their first green steel order

Cargill and H2 Green Steel sign multi-year offtake contract

Mercedes-Benz and H2 Green Steel announce agreements in Europe and North America

H2 Green Steel receives full environmental permit for Boden plant

H2 Green Steel signs agreement with Port of Luleå

thyssenkrupp nucera and H2 Green Steel partner for electrolysis plant

H2 Green Steel in €1.79 billion green steel deal with Marcegaglia

SPM and H2 Green Steel sign 5 year supply agreement for green steel

Bilstein Group reduces CO2-footprint through deal with H2 Green Steel that exceeds €250 million

H2 Green Steel to work with Anglo American on low carbon steelmaking

H2 Green Steel has entered into a long-term frame agreement with Fortum for electricity supply

Just Climate announces its investment in H2 Green Steel’s Series B equity round

Mobilaris and H2 Green Steel sign collaboration agreement

H2 Green Steel secures support for €3.5 billion debt financing

H2 Green Steel completes €260 million equity financing

Hydro Havrand and H2 Green Steel partner on large-scale green hydrogen production

H2 Green Steel partners with Midrex and Kobe Steel

H2 Green Steel completes €190 million funding round

H2 Green Steel will deliver CO2-reduced Steel to BMW Group

reduction in CO₂