Türkiye'de Mostbet çok saygın ve popüler: en yüksek oranlarla spor bahisleri yapmayı, evden çıkmadan online casinoları oynamayı ve yüksek bonuslar almayı mümkün kılıyor.
Search for:
Polskie casino Mostbet to setki gier, zakłady sportowe z wysokimi kursami, gwarancja wygranej, wysokie bonusy dla każdego.
  • Home/
  • Technology/
  • Swedish startup wants 1.5 billion euros to build zero-emission steel plant

Swedish startup wants 1.5 billion euros to build zero-emission steel plant

Swedish startup H2 green steel has announced its plans to raise more than €1.5 billion in equity to build steel mills that emit virtually zero emissions.

The startup, backed by high-profile investors such as Mercedes, Maersk and Spotify’s CEO, is building a “green steel” factory in Boden, northern Sweden.

The construction of the plant will be financed by more than €5 billion in debt and equity. The startup said in October that it received it support of European financial institutions €3.5 billion in debt financing, making it one of the most capitalized climate technology projects in Europe.

H2 Green Steel confirmed today that it is now in the process of securing the rest €1.5 billion equity financing and works with Morgan Stanley advisors, Financial Times reports.

Traditionally, steel is made by combining iron ore with coke (a type of coal) at extremely high temperatures. The burning coke produces carbon monoxide, which converts the iron ore into ‘pig iron’, the basis of steel. The only problem is that when the coke burns, a lot is produced CO2. In fact, the steel industry as a whole is responsible for a estimated 8% of the world CO2 emissions.

Visit us at TNW Conference 15 & 16 June in Amsterdam

Here are four reasons why you shouldn’t miss it

H2 Green Steel aims to decarbonize steel production by replacing coke with ‘green’ hydrogen (hydrogen produced using renewable energy). Hydrogen reacts with the iron ore to make pig iron – but without the emissions. The only by-product, the startup says, is water vapor.