H2 Green Steel: A Clean-Tech Triple Play?

At the end of 2023, the Swedish startup H2 Green Steel was mid-way through construction on an integrated steel plant in Northern Sweden that would use abundant local hydro power to create Europe’s first commercial-scale green steel. Their goal was to help European manufacturers to decarbonize their upstream (Scope 3) inputs, and they had successfully negotiated offtake contracts with the big European car companies. Their aspiration did not stop there, however. Maria Persson Gulda, chief technology officer at H2 Green Steel, was already thinking about how to take their green steel technology to other regions, and for use by other kinds of customers. They could play a critical role in addressing a core cause of climate change, but achieving this would require that they scale up their technology as rapidly as possible. How should that be done?