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
2 December 2025
Oil major cites deteriorating demand and a planning debacle as it abandons one of UK’s largest blue hydrogen projects
1 December 2025
Project at Emden in northwest Germany due online in 2027, but wider ramp-up of clean hydrogen sector in Germany will require overhaul of government policy, company warns
25 November 2025
The northwest African country’s vision of integrating green power, molecules and steel is alive and kicking, and serves as a reminder of hydrogen’s transformative potential
19 November 2025
The creation of ‘lead markets’ to generate hydrogen demand in the EU has potential, but implementation would pose complex challenges for producers and industrial offtakers
