{"id":79969,"date":"2023-10-10T01:00:18","date_gmt":"2023-10-10T01:00:18","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/swedens-h2-green-steel-eyes-canada-as-a-location-for-new-mega-plant\/"},"modified":"2023-10-10T01:00:18","modified_gmt":"2023-10-10T01:00:18","slug":"swedens-h2-green-steel-eyes-canada-as-a-location-for-new-mega-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/swedens-h2-green-steel-eyes-canada-as-a-location-for-new-mega-plant\/","title":{"rendered":"Sweden\u2019s H2 Green Steel eyes Canada as a location for new mega plant"},"content":{"rendered":"

Sweden\u2019s H2GS <\/strong>looks to Canada as it lines up a mega green steel plant:<\/strong> Swedish metal and hydrogen company H2 Green Steel (H2GS) is in negotiations with Canada to set up a mega green steel plant in northern Quebec, CEO Henrik Henriksson told Bloomberg<\/a> in an interview. He said the proposed 500 acre project will need an investment ranging between EUR 3 and EUR 6 bn. A proposed plan sees the Swedish company building a \u201cgreen iron\u201d facility and a mega electrolyzer powered by renewable energy to supply the project with hydrogen instead of coal. Another plan sees a full steel mill that would require 2k workers, a workforce similar to that of the company\u2019s first under-construction plant in Sweden\u2019s Boden. \u201cIt will depend on the dialogue we have with authorities in Canada regarding power allocation,\u201d he said.<\/p>\n

Electricity could be a barrier:<\/strong> H2GS will need as much as 700 MW of electricity, which represents 1.5% of Quebec\u2019s actual capacity, which could be risky during winter as demand peaks. Electricity barriers have forced state-owned utility Hydro-Quebec to become cautious about projects as demand grows, Bloomberg notes.<\/p>\n

And that\u2019s not all: <\/strong>The Swedish company is also carrying out a feasibility study on Texas as it explores wind and solar development. \u201cCanada is definitely ahead, but Texas has a very progressive view on creating business,\u201d H2GS Executive Vice-President Kajsa Ryttberg-Wallgren said. \u201cThere are not many places in the world where you actually have optimal conditions,\u201d Ryttberg-Wallgren added. The firm\u2019s future pipeline also includes projects in Brazil and Portugal with partners Vale and Iberdrola.<\/p>\n

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The UK is providing GBP 89 mn to 20 net zero tech projects:<\/strong> The UK has awarded GPB 89 mn in funding to 20 green tech projects including hydrogen-powered off-road vehicles, a new lithium scale-up plant and revolutionary new EV battery systems, according to a statement<\/a>. The funding package includes four collaborative R&D projects, five scale-up assessments projects to explore if businesses in the automotive sector are ready for growth, and seven feasibility studies to prepare projects to develop large-scale manufacturing facilities in the UK, the statement notes. GPB 45.2 mn of this investment comes from the UK government and the other GBP 42.7 mn is funded by the automotive industry.<\/p>\n

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