Reducing steel’s CO2 by 95% – the H2 Green Steel experience

Listen in to hear Kajsa Ryttberg-Wallgren’s insights into the at-scale green steel project she’s tasked with and the potential for transforming the global steel value chain.

With every ton of steel emitting (on average) 1.85 tons of CO2, the industry contributes around 8% of CO2 globally. It’s also one of our most essential materials used across all developed and developing nations for infrastructure and construction projects and is inextricably linked to economic growth.

Listen to Alex’s conversation with Kajsa Ryttberg-Wallgren, EVP of the Hydrogen Business Unit at H2 Green Steel. Taking “the world doesn’t need another pilot” as a starting point, the conversation explores the company’s at-scale first project in Sweden and its emerging international portfolio, all of which focuses on reducing emissions from steel by 95% and will be producing 5m tonnes of green steel a year by 2030.

Other takeaways include exploring the reality of creating a green steel project when you have no legacy business, the need to fight for the best talent and where they’ve found it, along with thoughts on selecting and collaborating with the right partners for your model. You’ll also get the opportunity to hear from Kajsa on disrupting the future global steel supply chain.

The acceleration of their plans has been made possible by the support H2 Green Steel it has received from leading financial institutions for its €3.5 billion debt financing, just confirmed in October 2022. Construction of its green steel plant will be enabled by a combination of equity and debt financing from organisations including AB Svensk Exportkredit (SEK), BNP Paribas, ING, UniCredit, Societe Generale and KfW IPEX-Bank. More institutions are finalising their involvement, including the European Investment Bank.

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Decarb Connect supports the acceleration of industrial decarbonization around the globe. We share insights and facilitate collaborations across the emerging decarbonization ecosystem. We look specifically at the most energy-intensive industrials from cement, metals and mining, glass, ceramics, chemicals, O&G and many more and help connect them to technology disruptors, investors and advisors.

Through the Decarbonisation Leaders Network (DLN), our members (a cross-sector network of those leading decarbonisation in energy-intensive industries) share insights and experiences as they accelerate their Net Zero plans. Check out Decarb Connect’s offerings and learn about the Decarbonisation Leaders Network members, meetups and benefits.

If you enjoyed this conversation, take a look at many more conversations and discussions about industrial decarbonisation taking place across Decarb Connect’s global event series.

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Many thanks to Janno Media for their support and expertise in the edit and production of our series.