Plant will avoid use of blast furnaces
H2 Green Steel raises €1.5b in landmark equity deal
Largest private placement in Europe in 2023 puts Swedish hydrogen-based steel plant on track for 2025 startup
Sweden-based H2 Green Steel has raised about €1.5b ($1.6b) in equity in a landmark deal that demonstrates the strength of global investors’ appetite for large-scale hydrogen-based steelmaking. Proceeds from the transaction, which is the largest private placement in Europe in 2023 so far, will help finance construction of the world’s first large-scale green steel plant at Boden in Sweden. The project includes Europe’s largest deployment of electrolysers, with capacity of more than 700MW. “This marks the start of industrial-scale decarbonisation of basic materials production. The sector will require substantial investments over the coming decades to enable our customers to produce green end p
Also in this section
14 February 2025
Leading European hydrogen investor commits $50m to green fuels developer amid continued uncertainty over US renewables policy
14 February 2025
Focus on facilities in Spain, Egypt and the UK as Mideast Gulf country aims to scale up output to supply markets in Europe and Asia
12 February 2025
Tax incentives attract multiple proposals for hydrogen hubs as government launches new initiative to speed up transition
11 February 2025
Multiple production routes and regional policy differences hamper nascent sector’s ability to attract investment
