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H2 Green Steel

Founded Year



Series C | Alive

Total Raised


About H2 Green Steel

H2 Green Steel operates a steel production plant that accelerates the decarbonization of the steel industry. It offers a digitalized and automated greenfield steel plant using raw materials, renewable energy, local expertise, and artificial intelligence. H2 Green Steel was founded in 2020 and is based in Stockholm, Sweden.

Headquarters Location

Riddargatan 23 A 1 tr.

Stockholm, 114 57,


+46 790060399

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Research containing H2 Green Steel

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CB Insights Intelligence Analysts have mentioned H2 Green Steel in 3 CB Insights research briefs, most recently on Mar 16, 2022.

Expert Collections containing H2 Green Steel

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

H2 Green Steel is included in 3 Expert Collections, including Carbon Capture, Utilization, and Storage (CCUS).


Carbon Capture, Utilization, and Storage (CCUS)

325 items

Companies innovating in the carbon capture, utilization, and storage (CCUS) space. Also includes emissions tracking tools, carbon offset marketplaces, and startups reinventing manufacturing processes to eliminate emissions.


Advanced Manufacturing

2,362 items

Companies focused on the technologies to increase manufacturing productivity, ranging from automation & robotics to AR/VR to factory analytics & AI, plus many more.


Construction Tech

867 items

Companies using technology to improve processes in the construction industry.

Latest H2 Green Steel News

Europe’s first commercial green steel plant to open in Sweden

Feb 22, 2023

H2 Green Steel to open a new green steel plant in Boden, Sweden. H2 Green Steel has started production at Europe’s first green steel plant in Boden, northern Sweden. Using hydrogen to replace coal, the company hopes to roll out the first batches of steel by 2025. The green steel will be created by using hydrogen to react with iron ore, producing only water vapour. H2 Green Steel will produce its own green hydrogen using water from a nearby river. The electricity required for electrolysis and the running of the plant will be provided by nearby renewable resources including hydropower from the Lule river and wind parks in the region. The process promises to cut emissions by 95% when compared with traditional steelmaking. Steel production currently accounts for 7% of total global greenhouse gas emissions. The steel is produced using a direct reduction reactor in the place of a blast furnace, producing sponge iron and water. How steel will be produced by H2 Green Steel. H2 Green Steel spun off from Northvolt, which makes batteries to power the energy transition, as the company sought more sustainable steel to use in manufacturing. H2 Green Steel hopes the factory will produce five million tonnes of steel by 2030. According to the World Steel Association , global crude steel production in 2021 was 1,951 million tonnes. In addition to producing green hydrogen for its own use, the company also seeks to export it as a resource for heavy industry. By 2050, hydrogen is expected to account for 10% of global energy consumption. H2 Green Steel is developing the Boden plant amid a growing interest in the production of green steel. The company has already signed an agreement with Spanish company Iberdrola to build a plant powered by solar power on the Iberian peninsula. Hybrit, another Swedish company, hopes to open a fossil-free green steel plant by 2026 in a joint venture with mining operator LKAB, Nordic steel company SSAB and energy company Vattenfall. In Japan, Nippon Steel has plans for a green steel plant, while competitor projects in France and Germany are also under way. Share this article

H2 Green Steel Frequently Asked Questions (FAQ)

  • When was H2 Green Steel founded?

    H2 Green Steel was founded in 2020.

  • Where is H2 Green Steel's headquarters?

    H2 Green Steel's headquarters is located at Riddargatan 23 A, Stockholm.

  • What is H2 Green Steel's latest funding round?

    H2 Green Steel's latest funding round is Series C.

  • How much did H2 Green Steel raise?

    H2 Green Steel raised a total of $3.816B.

  • Who are the investors of H2 Green Steel?

    Investors of H2 Green Steel include Just Climate, KfW Ipex-Bank, BNP Paribas, Societe Generale Group, ING and 29 more.

  • Who are H2 Green Steel's competitors?

    Competitors of H2 Green Steel include HYBRIT.

Compare H2 Green Steel to Competitors


HYBRIT was formed as a joint venture between SSAB, Vattenfall and LKAB to develop a new process that uses hydrogen instead of coking coal in ore-based steel making.

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