Stegra plans to be a pioneer in carbon-free steel production, especially internationally, and is currently working on potential projects in countries such as Portugal, Canada and Brazil.
Stegra's most advanced project is reported to be the one in the Sines region of Portugal, where land has been selected and reserved. Henrik Henriksson, CEO of the company, stated that the necessary power has been significantly allocated in this project and local business partnerships are progressing.
H2 Green Steel was established in 2021 with the aim of producing low carbon steel. The company is building Europe's first green steel production facility using renewable energy sources and green hydrogen. Planning to produce 5 million tonnes of high-quality green steel annually by 2030, Stegra is also building a giga-scale green hydrogen plant.
Construction work at the Boden plant is progressing rapidly; around 1,000 construction workers are currently employed, and this number is expected to increase in the coming months. The company is investing in major infrastructure projects, including railway connections.
H2 Green Steel's EUR 6.5 billion investment fund is seen as a critical step for the steel industry to reduce CO2 emissions in line with the EU's climate targets. The company represents an important transition for the sector, which is responsible for 5 % of Europe's steelmaking emissions and 7 % of global emissions.
On the other hand, carbon-efficient steel prices are also being monitored. As of 11 September 2024, carbon-neutral prices have been set for hot-rolled steel sheets and rebar in Northwest Europe. The metric tonne prices for these products are EUR 660 and EUR 685, respectively.
Stegra's international growth strategy and carbon-neutral steel assessments reinforce the company's commitment to environmental sustainability goals and its leadership in the industry.
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