H2 Green Steel partners with Midrex for technology and Kobe Steel for equity investment

H2 Green Steel has partnered with Midrex, the world leader in direct reduction ironmaking technology for the steel industry. Owner of Midrex, Kobe Steel The partnership was further cemented by investing in H2 Green Steel as part of its Series B funding round.

Stockholm, October 11 November 2022 /PRNewswire/ — H2 Green Steel will build the world’s first direct reduced iron (DRI) facility to run on 100% green hydrogen based on Midrex technology. The Midrex H2 plant will produce 2.1 million tonnes per annum of hot DRI and hot briquetted iron (HBI) and will feed the initial production of 2.5 million tonnes of green steel in northern Boden Sweden. This first-of-its-kind DRI plant will be operated by Midrex and Paul WaterSMS group of companies.

“We started working together about two years ago, during which time Midrex’s team demonstrated the ability to rapidly develop technology to develop a package that wraps the world’s largest hydrogen electric heater using the DRI process to ensure a completely green solution For iron reduction. This DRI plant will truly be a first of its kind and a milestone in large-scale green steel production.” Maria Persson GuldaCTO of H2 Green Steel.

The purpose of H2 Green Steel is to decarbonize hard-to-abate industries, starting with steel. Compared to conventional blast furnace steelmaking, the process will reduce carbon emissions by up to 95%. When iron ore is reduced to sponge iron, most of the emission reductions will be achieved through Midrex’s technology. The two companies will also collaborate on optimization services in the DRI process.

“This unique project is a ‘beacon’ for our industry and sets the standard for green steel. Nothing beats it – using 100% hydrogen to produce over 2 million tonnes of direct reduced iron from day one, Simultaneously reduce CO2 emissions by up to 95%2,”Say Stephen C. MontaguePresident and CEO of Midrex Technologies, Inc. “This is what Midrex wants to be – being at the forefront of technology.”

Midrex is Kobe Steeland to further strengthen the partnership, Kobe Steel Has invested in H2 Green Steel. also, Kobe Steel Discussions with H2 Green Steel have started on a possible future purchase of green HBI. H2 Green Steel may have some HBI overcapacity during the transition period to bring the company’s capacity to full capacity.

“We are delighted to work with H2 Green Steel as a strategic partner, from both plant supply and equity investment, to jointly tackle the challenge of global carbon neutrality. We believe that the H2 Green Steel project will build a good image.” The world A precedent for the steel industry’s move toward decarbonization. ” Morisaki KazutoExecutive Vice President or Kobe Steellimited company

“As a major Japanese steel manufacturer, Kobe Steel The investment in our business clearly demonstrates the interest of existing steel companies in new ventures that will propel the entire steel industry forward.It also adds further geographic diversification to our progressive investor base, who provide us with solid support,” he said. Henrik HenriksenCEO of H2 Green Steel.

Karin Hallstan, Head of Public and Media Relations, Tel: +46 76 842 81 04, Email: [email protected]

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