H2 Green Steel, a Swedish business, is on the verge of building the world’s first commercial-scale steel plant, which has the potential to reduce CO2 emissions by 95%, according to Newsweek.
The key is a novel technique that replaces typical carbon-heavy coke with hydrogen, producing just steam in the steelmaking process. This big step toward sustainable steel manufacturing comes as the industry grapples with its notorious contribution of approximately 7% of global CO2 emissions.
Lars Lundström, Head of Product Sustainability at H2 Green Steel, provided insight into the groundbreaking method, saying, “In our process, we exchange coke for hydrogen.
The adjustment not only addresses environmental concerns, but it also corresponds with the global goal of lowering carbon emissions. The company’s facility, geographically positioned in northern Sweden, generates carbon-free electricity from abundant water and hydropower, paving the way for a breakthrough in the steel sector.
However, the path to green steel requires more than technological innovation. To gain funding for such projects, companies like H2 Green Steel must strike a delicate balance between market demand and investor confidence. Jen Carson, who leads the Climate Group’s decarbonization activities, emphasized the importance of precise standards, saying, “A big part of our work is to provide clear, consistent, and credible definitions in terms of tons of carbon per ton of steel.”
