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ORGANIZER;CN=ESTAD 2023:mailto:info@metec-estad.com
LOCATION:Room 1
SUMMARY:Building the world's first green steel plant
DESCRIPTION:H2 Green Steel was launched February 2021 with the ambition to decarbonize hard-to-abate industries, starting with steel. By 2025 we will have production up and running, in Boden, Sweden, scaling volumes in 2026 to 2,5 million tonnes of steel. In phase two of our project, we will produce 5 million tonnes of steel per year. Our production site in northern Sweden, will hold one of the world’s largest electrolysis plants for green hydrogen production to date, a DRI tower for the production of sponge iron and an ultra-modern steel mill to produce the green steel. The renewable electricity locally sourced in northern Sweden is key to making this happen. 
Our founder and largest investor is Vargas, which is also co-founder of Swedish battery maker Northvolt and several other green impact companies. Over the course of the past two years since launch, we have obtained our permissibility permit, started construction in Boden and on top of a €86 million series A financing, we closed our series B equity round at €260 million October last year. In addition, leading financial institutions, including major commercial banks and the European Investment Bank, have announced their intention to back our debt funding with €3,5 billion. We have presold about 60% of our initial volumes to customers like BMW, Mercedes, Miele, Electrolux, Scania, Adient, Schaeffler and Kingspan who have validated the demand for green steel.  
We are also looking into prospects on the Iberian peninsula, in Brazil and locations in North America that have the special prerequisites in terms of land and access to renewable electricity production. 

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