Industry News

European Commission approves financing for H2 Green Steel new plant

Views : 60
Update time : 2024-07-03 13:26:05
According to European Commission announcement, they will support H2 Green Steel to build a large-scale green steel plant in Boden, Sweden, and approved €265 million in state aid, to achieve carbon reduction goals.

The new plant is expected to begin operations in 2026, It includes an electrolysers with a capacity of 690 MW, a direct reduction plant using renewable hydrogen, two electric arc furnaces and cold rolling and finishing facilities, with an annual output of 2.4 million tons of green steel.

And according to the research, using renewable energy throughout the entire manufacturing process will reduce greenhouse gas emissions by up to 87% compared to traditional steel manufacturing processes.
Related News
Read More >>
After steel and aluminum, Trump to impose tariffs on copper After steel and aluminum, Trump to impose tariffs on copper
Feb .28.2025
After steel and aluminum, Trump to impose tariffs on copper
Blastr Green Steel partners with Aurora Infrastructure for Finland plant Blastr Green Steel partners with Aurora Infrastructure for Finland plant
Feb .28.2025
Blastr Green Steel partners with Aurora Infrastructure for Finland plant
Steel Partners Holdings LP's 6.00% Cumulative Preferred Units Steel Partners Holdings LP's 6.00% Cumulative Preferred Units
Feb .28.2025
Steel Partners Holdings LP's 6.00% Cumulative Preferred Units
Oil prices advance despite concern over more US tariffs Oil prices advance despite concern over more US tariffs
Feb .28.2025
Oil prices advance despite concern over more US tariffs