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H2 Green Steel Secures $4.5B in Debt Financing

H2 Green Steel has secured over $4.5 billion in debt financing for its Boden green steel plant. This includes nearly $326 million in equity, and a $272 million EU Innovation Fund grant. 

The plant integrates green hydrogen and iron production, marking a significant advancement in sustainable steel manufacturing. Steel from these plants produce 95% less CO2 than traditional manufacturing processes. 

Key backers include Microsoft Climate Innovation Fund, Mubea, Siemens, IMAS Foundation and Just Climate.

Considering steel currently makes up 8% of global emissions, initiatives like this can make a big difference. 

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