Industry News

European Commission approves financing for H2 Green Steel new plant

Views : 63
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 >>
Aluminium sliding that looks like wood? Westlake Royal unveils new designs & colours for its Cedar Renditions™ range Aluminium sliding that looks like wood? Westlake Royal unveils new designs & colours for its Cedar Renditions™ range
Mar .06.2025
Aluminium sliding that looks like wood? Westlake Royal unveils new designs & colours for its Cedar Renditions™ range
Aluminium prices diverge as LME gains, SHFE declines amid rising inventories Aluminium prices diverge as LME gains, SHFE declines amid rising inventories
Mar .06.2025
Aluminium prices diverge as LME gains, SHFE declines amid rising inventories
Aluminium giant seeks 14% premium hike in Q2, a surging trend set owing to trade and supply concerns Aluminium giant seeks 14% premium hike in Q2, a surging trend set owing to trade and supply concerns
Mar .06.2025
Aluminium giant seeks 14% premium hike in Q2, a surging trend set owing to trade and supply concerns
Tariffs on Mexico finalised, SHFE aluminium weakens due to alumina drag Tariffs on Mexico finalised, SHFE aluminium weakens due to alumina drag
Mar .06.2025
Tariffs on Mexico finalised, SHFE aluminium weakens due to alumina drag