A company, called Stegra, is set to start the world’s first commercial green steel mill, which will make the metal using hydrogen from renewable sources. (You may know this company by its old name, H2 Steel Greenas we included it in our 2023 list of climate tech companies to watch.)
When I started following Stegra a few years ago, its plans to build a huge green steel mill seemed incredibly distant to me. The company now says it is on track to produce steel at the plant here next year.
The biggest challenge in this field is money. Building new steel mills is expensive: Stegra has raised nearly $7 billion. And the company’s product will be more expensive than conventional hardware, so it will have to find customers willing to pay (so far, that’s the case).
There are other efforts aimed at cleaning steel that will all face similar money challenges, including another Swedish company called Hybrit and startups like Boston Metal and Electra, which use different processes. Learn more about green steel and the potential obstacles it faces as we enter a new phase of commercialization, in this short presentation text and in this longer article on Stegra.
Cow Burp Remedies
Humans love hamburgers, steaks, milk and cheese, which is why we raise a whole bunch of cows. The problem is that these animals are part of a group whose digestion process is genius and produces a lot of methane (a powerful greenhouse gas). A growing number of companies are trying to develop solutions to reduce their methane emissions.