5min chapter

Business Daily cover image

Sweden leads green steel race

Business Daily

CHAPTER

Sweden's Changing the Way Steel Is Made

No new steel plants have been built from scratch in a new location anywhere in Europe for decades. Steel is expensive to produce in Europe because of high energy costs. Electric battery maker Northvault, wanted to avoid the carbon emissions linked to transporting steel from abroad and find a greener way of producing it on home soil. In 2021, H2 Green Steel was launched with funding from the same investors as Northvault,. 2025 is when we're getting our first steel out. We will have new jobs, interesting jobs. It means everything for us.

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