As a result of strong customer demand for green steel, H2 Green Steel has signed off-take supply agreements for over 1.5 million tonnes of the volumes it will produce starting in 2025.

The steel plant in Boden will have an initial capacity of 2.5 million tonnes before ramping up production to reach an annual capacity of 5 million tonnes by 2030. Customers in a broad range of industries have currently signed term sheets or supply agreements for more than half of H2 Green Steel’s initial capacity, including Adient, BE Group, Bilstein Group, BMW Group, Electrolux, Kingspan, Klöckner & Co, Lindab, Marcegaglia, Mercedes-Benz, Miele, Mubea, Purmo Group, Roba Metals, Scania, Schaeffler, Zekelman Industries, and ZF Group.

A majority of the customers pioneering the green industry transition together with H2 Green Steel have also committed to science-based targets, covering not only scope 1 and 2 but also ambitious scope 3 emissions.

Green steel is expected to become one of the fastest growing industrial markets

“Securing contracts of 1.5 million tonnes of green steel does not only mark an important milestone for H2 Green Steel, but also a monumental shift in sentiment where customers are willing to pay a premium to reduce their emissions. Green steel is expected to become one of the fastest growing industrial markets, and companies are driving the unprecedented demand to decarbonise operations and processes in their sector,” says Carl-Erik Lagercrantz, Vice Chairman of H2 Green Steel.