The world’s largest hydrogen “green steel” plant will open in Sweden in 2024
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In a typical production, a blast furnace or electric arc furnace combines iron ore and limestone with coke (coal that has been baked at a high temperature to remove impurities) to make steel . However, the coke reducing agent can be replaced with hydrogen, so as to achieve a process that does not emit anything except water, and hydrogen can also be used to power the electric arc furnace, thus providing you with a completely emission-free steel production pipeline.
Every major steel producer in the world is considering similar things to reduce its emissions, and there are many incentives for downstream customers, such as car manufacturers, to join in when green steel is listed. A new development project in northern Sweden aims to get some green steel into the market as soon as possible. The project is led by the current CEO of Scania.
The budget of the green steel company H2 Green Steel (hereinafter referred to as H2GS) is approximately US$3 billion. It will use hydrogen produced from renewable energy in the Boden-Luleå region of Sweden, and it is planned to start production in 2024. By 2030, H2GS is expected to produce 5 million tons of high-quality zero-emission steel annually.
The company said that this will be the first large-scale fossil-free steel plant that produces hot-rolled, cold-rolled and galvanized coils, which are expected to be sold in automobiles, transportation, construction, pipelines and white goods Waiting for the market.
“We want to accelerate the transformation of the European steel industry,” Carl-Erik Lagercrantz, chairman of the H2GS board of directors, said in a press release. “Electrification is the first step to reduce carbon dioxide emissions in the transportation industry. The next step is to use high-quality fossil-free steel to manufacture vehicles.”
This project is another encouraging sign that shows that major investors are Interest in low-carbon initiatives has increased, and these initiatives usually involve more risks and longer wait times for return on investment than they can put money elsewhere.
But like all hydrogen-based initiatives, the H2GS project requires a significant drop in the price of green hydrogen in order to realize its full potential.