NEWS COMMENTARY

New €2.5 billion green steel plant announced in Sweden, but details still lacking

Published:
March 15, 2021
Coverage:
Owning the Energy Transition
Activities:
Project
Average importance

H2 Green Steel, led by Vargas, an investment company from Sweden, is looking to build an industrial-scale steel plant using hydrogen-direct reduced iron (DRI) steelmaking technology. The initiative will be led by Henrik Henriksson, who is currently the CEO of Scania, and has ambitious plans to reach 2.5 million tons of green steel production by 2026. The proposed plant will be located in Lulea, Sweden, which also happens to be where SSAB is developing its hydrogen-DRI project, although SSAB is currently not involved in this new project. Given the stage of hydrogen-DRI technology, it is unlikely that H2 Green Steel will meet its targets, and it is unclear how it intends to raise €2.5 billion. 

For the original news article, click here .


Further Reading

Worn Again partners with Sulzer to build demonstration facility

News Commentary | January 06, 2021

Sulzer will support Worn Again Technologies by providing equipment and manufacturing expertise. When Lux spoke to Worn Again at the end of 2019, the company was in the lab stage and had plans for a demonstration plant in 2021. While it is unclear if Worn Again still aims to complete the facility by ... Not part of subscription

Nutrition Technologies reaches commercial-scale production and raises $5 million for black soldier fly-derived protein

News Commentary | March 02, 2021

The $5 million investment was led by Hera Capital and joined by existing investors Openspace Ventures and SEEDS Capital. Nutrition Technologies will use the funds to increase the capacity of its new commercial‑scale insect production facility in Malaysia as well as support R&D and the company's ... Not part of subscription

Svante receives $20 million investment from government of Canada to scale manufacturing in North America

News Commentary | July 19, 2021

Following Svante's $75 million Series D funding round in February, the company has received an additional $20 million investment from the government of Canada to support ongoing commercialization efforts. The funding comes from the Strategic Innovation Fund's Net Zero Accelerator and will help ... Not part of subscription