H2 Inexperienced Metal adjustments title to Stegra

STOCKHOLM, Sept. 12, 2024 /PRNewswire/ — The economic scale-up H2 Inexperienced Metal is converting its title to Stegra. The corporate’s objective is to decarbonize strenuous to-abate industries. Stegra will achieve this through leveraging all 3 platforms it really works with: inexperienced hydrogen, inexperienced iron and inexperienced metal.

H2 Inexperienced Metal was once introduced in 2021 to leave emissions within the metal trade on an overly aspiring timeline. Via appearing that it may be executed, the corporate additionally aimed to encourage the incumbent metal trade to hurry up the future of alternate. Having tie investment of €6.5 billion and being neatly on its approach to construction the arena’s first large-scale inexperienced metal plant – with get started of manufacturing in 2026 – the corporate now begins a unutilized bankruptcy with a unutilized title: Stegra.

“The team continues to prove that it is possible to do more and to change things fast, also in an industry that has for a long time been considered difficult to decarbonize. As we continue this journey, we leave our more descriptive project name behind, and take on the name Stegra, which reflects our long-term ambitions,” says Henrik Henriksson, CEO, Stegra.

Since its inauguration, the corporate’s objective has been reshaped to be the accelerator of decarbonization in hard-to-abate industries. Brittle-to-abate industries depend closely on fossil fuels, making emissions cuts tougher. The ones are the industries Stegra will take on. And appearing that it’s conceivable within the metal trade, the usage of renewable electrical energy, is step one.

“Stegra is a Swedish word which means to ‘to elevate’. It captures the team’s spirit to rise in the face of challenges and always continue to move onwards and upwards. It’s a constant reminder of the company’s purpose and honors our Swedish roots and where it all began in Boden,” says Henriksson.

The title Stegra is generation evidence for the exit forward, which is according to the 3 distinct platforms which are being in-built Boden:

Inexperienced hydrogen: some of the global’s biggest electrolyzers
Inexperienced iron: the place the majority of the emissions are decreased through changing coal and coke in conventional steelmaking with inexperienced hydrogen – emitting aqua in lieu of carbon emissions
Inexperienced metal: an absolutely electrified large-scale manufacturing facility for alike 0 emissions metal

Over the long run, Stegra will discover the possibility of enlargement, leveraging all 3 platforms and making importance of the competence and revel in being advanced within the flagship plant in Boden.

Stegra has a cast funnel of doable tasks out of doors of Sweden which are being explored as a part of a longer-term outlook. They’re characterised through places the place the corporate’s shoppers want assistance with value-chain decarbonization and which trade in plentiful get entry to to renewable electrical energy and robust grid connections. Places into consideration come with Portugal, Canada and Brazil.

“Presently, a project in Portugal, where the site selection has been made and land reserved near Sines, is the most advanced. Notification on substantial allocation of the power needed has been made to Stegra and our local value chain partnerships continue to evolve,” says Henriksson.

For more info, touch:
Karin Hallstan, Head of Family and Media Family members or Nils Eklund, Family and Media members of the family supervisor Boden, Stegra at [email protected] or +46 79 006 03 99

This knowledge was once dropped at you through Cision http://news.cision.com

https://news.cision.com/h2-green-steel/r/h2-green-steel-changes-name-to-stegra,c4036356

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