H2 Green Steel starts a new chapter
The company has secured private financing in loans and capital totaling SEK 75 billion (EUR 6.6 billion). It has sold half of its production and secured binding customer contracts worth SEK 130 billion (EUR 11.4 billion).
Following preparatory groundwork, including piling, construction of the steel plant buildings is now starting. This summer, 700 people will work on the steelworks construction in Svartbyn outside Boden, compared to 450 today.
“Now the second chapter begins: realizing the plans. We have started building the structures above ground. We have 730 days until production starts in March 2026. The sooner everyone understands that something is happening, the better,” Henrik Henriksson said, emphasizing the importance of collaboration between all parties involved.
Things don’t just happen in Boden, H2 Green Steel affects the whole region. Already, 60 companies in Luleå, 40 kilometres from Boden, have invoiced H2 Green Steel, according to purchasing manager Luisa Orre. Local companies in the IT sector such as Tromb, Ductus and Skylite are working with H2 Green Steel. For the Port of Luleå there will be a major impact, about 8.5 million tonnes of products will be moved annually to and from H2 Green Steel’s steelworks.
There are still major unresolved issues. H2 Green Steel would prefer to buy iron ore from Norrbotten, but the capacity of the Malmbanan railway has prevented this from being resolved. Discussions are taking place with state mining company LKAB, which is also collaborating with steel company SSAB and state energy company Vattenfall on fossil-free production in the Hybrit project, which includes plans for a new steel plant in Luleå. There are also no guarantees for sufficient electricity supply when H2 Green Steel goes into full production.
The meeting at Vetenskapens hus was organised by the business organisation Luleå Näringsliv and H2 Green Steel.
Lennart Håkansson
