The Hydrogen Stream: H2 Green Steel gets $7 billion for production in Sweden

H2 Green Steel has secured funds to produce green steel in Sweden, while ZeroAvia has locked down support to develop a mobile liquid hydrogen (LH2) refueling truck for heavy-duty applications.

Image: H2 Green Steel

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H2 Green Steel has signed definitive debt financing agreements for €4.2 billion ($4.56 billion) in project financing. Its total equity funding to date amounts to €2.1 billion. “H2 Green Steel has now secured funding of close to €6.5 billion for the world's first large-scale green steel plant in Northern Sweden,” said the company, which has also been awarded a €250 million grant from the EU Innovation Fund. 

ZeroAvia has secured $3.25 million from the California Energy Commission (CEC) to develop a mobile LH2 refueling truck for heavy-duty applications in the aviation and maritime sectors. The company will initiate the design and construction of a 10,000-liter mobile LH2 refueler this month, in order to match traditional jet fuel refill times. ZeroAvia plans to support passenger and cargo flights by the end of 2025 with its first hydrogen-electric engines (ZA600) for aircraft  based on gaseous hydrogen storage. A conditional order for up to 20 ZA600 engines has been placed by Mehair, contributing to ZeroAvia's total of more than 2,000 engine pre-orders.

Lhyfe and London-based Source Galileo have agreed to develop commercial-scale green hydrogen production facilities in the United Kingdom and Ireland. They said they will combine their expertise to generate and supply hydrogen to a range of customers. The companies will initially focus on using electricity from onshore renewable sources, before switching to offshore wind at a later stage. 

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Nel Hydrogen Electrolyser has signed a €5 million contract with Samsung C&T for 10 MW of alkaline electrolyzer equipment for an off-grid green hydrogen production project in South Korea. “This is a firm purchase order for alkaline stacks and balance-of-stacks (BoS),” said Nel Hydrogen Electrolyser. “The electrodes will be produced in the Herøya facility in Norway, the world's first fully automated electrolyser production line.”

TECO 2030 and its partners have started the second EU Horizon project to develop a full-scale demonstration of a hydrogen fuel cell-powered systems suitable for maritime applications, targeting operations in the Adriatic Sea. Apart from the design and construction of the ship, the project focuses on developing comprehensive hydrogen distribution, storage, and bunkering solutions.

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