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

H2 Green Steel is partnering with Midrex, a world leader in direct reduction ironmaking technology for the steel industry. Midrex's owner, Kobe Steel is further solidifying the partnership by investing in H2 Green Steel as part of its Series B financing round.

STOCKHOLM, Oct. 11, 2022 /PRNewswire/ -- H2 Green Steel will build the world's first facility for direct reduced iron (DRI) running on 100 percent green hydrogen, based on Midrex's technology. The Midrex H2 Plant will have a yearly production of 2,1 million tonnes of hot DRI and hot briquetted iron (HBI) that will feed the production of initially 2,5 million tonnes of green steel in Boden in northern Sweden. This first-of-a-kind DRI plant will be provided by a consortium of Midrex and Paul Wurth, an SMS group company.

"We started working together almost two years ago and during this time, the team at Midrex has demonstrated a capability for rapid technical development, leading to a package that wraps the world's largest hydrogen electrical heater with the DRI process, to secure a completely green solution for iron reduction. This DRI plant will truly be first of its kind and a landmark for large scale green steel production," says Maria Persson Gulda, CTO of H2 Green Steel.

H2 Green Steel's purpose is to decarbonize hard-to-abate industries, starting with steel. Its process will remove up to 95 percent of carbon emissions compared to traditional steelmaking with a blast furnace. The bulk of the emission reductions will happen with Midrex's technology when iron ore is reduced to sponge iron. The companies will also work together for optimization services in the DRI-process.