Sweden’s H2 Green Steel lands $189m investment
- Sep 12, 2022 7:04 pm GMT
Our global society is built on steel.....
Steel production and accounts for 8% of total global CO2 emissions. Emissions from steel production must decrease for industry to achieve net-zero emissions by 2050 and for countries to deliver on the commitments made in the Paris Agreement.
Seven out of the ten biggest steel producing countries have initiated at least one green steel project but nearly 2 billion tonnes of steel is produced every year which is a colossal goal....
Scheduled to start production as early as 2025, the fully integrated, digitalised and circular plant is expected to reduce 95% of CO₂ emissions compared to traditional steelmaking. Swedbank Robur alternative investments head Henrik Lundh said: “By investing in H2 Green Steel, we support an efficient production of green hydrogen and green steel and thereby support a cost-competitive decarbonised industry development.
However, equal focus and attention must be paid to ♻️ recycling as this seems to be the most obvious way to reduce emissions. But the full potential of reused and recycled steel is currently unfulfilled.....💡💚
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