Boden, in northern Sweden, will be home to the world’s first true “green” steel plant.

The exclusive “zero emissions” plant, powered solely by green hydrogen, will be built by H2 Green Steel (H2GS), a Swedish steel company, with an initial financial contribution from a number of important investors and international groups committed to the most advanced technologies for environmental sustainability and Industry 4.0.

Marcegaglia will be one of these investors, not only as a financial backer, but also as a strategic industrial partner on both the production and commercial fronts.

The H2GS steelmaking complex, which will open in 2024 and meet the EU’s 2050 eco-compatibility goals, will initially produce 2.5 million tons of green steel per year, with a goal of 5 million tons by 2030.

H2GS will generate green hydrogen using only local renewable energy sources (such as wind and hydropower) and high-quality iron ore, which is abundant in Sweden’s Boden cluster, which is a world leader in metallurgy and steelmaking.