FLASH: H2GS secures $7 bln for large green steel plant in Boden

Sweden steelmaker H2 Green Steel (H2GS) has secured funding of nearly EUR 6.5 billion ($7 billion) for the world's first large-scale green steel plant in Northern Sweden's Boden, according to the Stockholm-based company's official statement on January 22.

The new plant will integrate green hydrogen and green iron production, and its production is expected to start as early as 2025. Upon completion, the plant can produce 2.5 million tonnes of near zero steel per year, with up to 95% lower CO2 emissions than steel made with coke-fired blast furnaces, as reported. The