H2 Green Steel will build the world's first large-scale green steel plant.
The plant will be located in Boden, northern Sweden. By replacing coal with hydrogen, the plant will be able to produce steel with up to 95 per cent lower CO2 emissions than steel produced using blast furnace technology.
The construction began yesterday, SVT reports.
In September, the company announced that it had secured the final funding – SEK 18 billion (approximately €1 billion 577 million) from a group of investors.
During the next six months, we will start to increase the pace of construction from ground and construction work to the steel work itself. So, at the same time next year you will see a huge difference, says Jeff Helhoff of the H2 Green Steel construction team.
H2 Green Steel aims to begin production in 2025.