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The world’s largest low-carbon steel plant moves closer to completion

Jeff St John of Canary Media reports that H2 Green Steel will soon complete its low-carbon steel plant.

The C3 Take
  • H2 Green Steel has raised a $1.6 billion equity round which will allow the company to finish building its novel low-carbon steel plant.
  • The facility will combine more than 700 megawatts of hydrogen electrolyzers with a set of electric arc furnaces capable of producing 5 million metric tons of steel by 2030.
  • While this is only a splash in the bucket (2 billion tons of steel are made each year) it does mark a significant breakthrough that could inspire future innovation for an emissions-heavy industry.

“H2 Green Steel last year announced pre-orders of 1.5 million metric tons of steel from customers including automakers BMW, Mercedes-Benz and Scania, appliance maker Electrolux, and primary steel suppliers such as Bilstein Group and Klöckner & Co., and said it secured price premiums of 20 to 30 percent for those purchases.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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