SWEDEN COMPANIES GET INTO AGREEMENTS FOR EQUITY INVESTMENTS, ENERGY SOLUTIONS, AND GREEN STEEL

25 July, 2022 by
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In programs that help the industrial start-production up's of green steel, Hitachi Energy collaborates with H2 Green Steel.

The collaboration between the two businesses is described in a Memorandum of Understanding as having three main components: an equity investment by Hitachi Energy in H2 Green Steel; products and services from Hitachi Energy that are required to build and enhance the electrical infrastructure to power steel production and giga scale electrolyzer plants; and green steel off-take from H2 Green Steel for the manufacturing of Hitachi Energy's products once production begins.

Steel production requires a lot of energy. The industrial-scale electrified technique used by H2 Green Steel will replace the conventional blast furnaces fuelled by coke. It almost eliminates CO2 emissions from the steel manufacturing process, but it also highlights how crucial it is to have an effective and dependable electrical infrastructure to power the plant's production activities.

H2 Green Steel will use Hitachi Energy's expertise to optimize clients' value chain to plan, develop, run, and maintain the power infrastructure, which includes IT and operational technologies, beginning with the facility in Boden, Sweden (OT). In accordance with the contract, Hitachi Energy will invest in H2 Green Steel and also join as a customer of that firm when manufacturing begins.

The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only.



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