"Record-Breaking Financing Secured for World's First Green Hydrogen Steel Plant"

H2 Green Steel secures €4.5bn in additional funding for the world’s largest green-hydrogen-based steel project in northern Sweden, aiming to produce near-zero-emission steel by replacing coking coal with green hydrogen and using renewable energy. The project, with close to €6.5bn in financing, is set to take a final investment decision soon and has already begun construction, with production expected to start in 2027. The company has secured contracts with major customers and financing from a group of lenders, including the European Investment Bank, and has also raised equity and received grants from the EU’s Innovation Fund.