H2 Green Steel

Powering a new, clean industrial revolution

H2 Green Steel (H2GS) was founded in 2020 with the ambition to accelerate the decarbonization of hard-to-abate industries. The company is starting with steel, which is one of the world’s largest carbon dioxide emitters, building a fully integrated, digitalized, and circular plant in Boden, northern Sweden. The plant will produce green steel, reducing CO2 emissions with up to 95% percent compared to traditional steelmaking.


Why we believe in H2 Green Steel

  • There is a significant commercial opportunity for green steel, with a favorable supply/demand balance over the next decades
  • H2GS is uniquely positioned to capture this opportunity, due to an optimal geographical location for input factors, limited exposure to rising carbon costs compared to legacy operators, and a significant 1st mover advantage
  • H2GS has at a record pace achieved key commercial milestones de-risking the greenfield nature of the project, including securing a construction permit, pre-selling the majority of initial volumes to a range of industries, and attaining renewable energy contracts

About H2 Green Steel

2022 turnover (Calendar year)




Investment date

Mar 2021



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