Sweden-based H2 Green Steel has announced that it has secured a total of €190 million in funding from a group of investors for its initiative to decarbonize steel production by using renewable hydrogen.
The company aims to transform industries that generate significant carbon emissions, starting with steel through a green hydrogen-powered steel plant in Boden in northern Sweden.
Meanwhile, H2 Green Steel stated that it has pre-sold about 60 percent of its initial volumes showcasing the demand for decarbonized steel. Customers represent a broad range of sectors including steel service centers, pipe and tube, passenger vehicles and heavy commercial vehicles, white goods and construction products.
