Swedish steel venture H2 Green Steel is planning to build a fossil fuel-free steel plant in the north of Sweden, including a sustainable hydrogen facility, with production starting in 2024, it said on Tuesday.
The Lulea-based venture, which is in the process of closing 50 million euros ($60.7 million) in series A equity financing, said in a statement that by 2030 it plans to have an annual production capacity of 5 million tonnes.
"The project includes a giga-scale green hydrogen plant as an integrated part of the steel production facility," it said.
The European Union has made hydrogen a key part of its plan to eliminate its greenhouse gas emissions by 2050, and is betting on a rapid scale-up to decarbonise steel, heavy transport and chemicals.
Truck maker Scania said earlier on Tuesday its top chief Henrik Henriksson was stepping down to become H2 Green Steel's chief executive.
Malaysian Anti-Corruption Commission raids lead to arrest of state official linked to illegal bauxite mining in Kuantan
Chinalco together with Dalian Liaonan Shipyard unveils joint innovation centre for ship equipment
SMM alumina price opens the week with a growth of RMB22/t; Australian alumina FOB price rises by US$37/t
