Hitachi Energy and H2 Green Steel partner to leverage electrification, digitalization, and hydrogen for green steel production
Memorandum of Understanding outlines collaboration to support the decarbonization of the steel industry by using disruptive technology and reduce carbon emissions
Zurich, Switzerland, July 20, 2022 (GLOBE NEWSWIRE) -- Hitachi Energy today announces that it has signed a Memorandum of Understanding (MoU) with H2 Green Steel to leverage electrification, digitalization, and hydrogen to support the decarbonization of the steel industry.
H2 Green Steel, a Swedish industrial start-up, is on a mission to accelerate the global steel industry’s greatest technological shift by eliminating almost all of carbon dioxide (CO2) emissions from the steel production process. It is planning to build its first fossil-free steel plant in Boden, Sweden, alongside a giga scale electrolyzer plant for the production of green hydrogen.
The MoU outlines a collaboration which is built on three (3) pillars: 1) Hitachi Energy’s equity investment in H2 Green Steel; 2) products and services from Hitachi Energy that are needed to construct and improve the electrical infrastructure to power steel production and giga scale electrolyzer plants; 3) green steel to be used in the manufacturing of Hitachi Energy’s products, once H2 Green Steel starts production.
Over the past decade, expanding steel production has increased total energy demand and CO2 emissions1, which contributes to about eight percent of the world’s global industrial carbon emissions2.
Starting with the plant in Boden, H2 Green Steel will leverage Hitachi Energy’s capabilities to optimize customers’ value chain to plan, build, operate, and maintain the power infrastructure that includes IT and operational technology (OT). The steel production in Boden will use green hydrogen instead of coal in a fully integrated process using end-to-end digitalization, which reduces up to 95 percent CO2 emissions compared to traditional steelmaking. This will be equivalent to removing 3 million passenger cars per year from road3.
“Achieving carbon-neutrality globally requires efforts from all industries to speed up the energy transition through collaborations,” says Johan Söderström, Head of Europe, Middle East, and Africa at Hitachi Energy. “This collaboration with H2 Green Steel is a pioneering example of how we are working together and creating additional benefits for our customers. We are supporting H2 Green Steel’s electrification project and at the same time, we are able to secure green steel for our products, which is in line with our Purpose: Advancing a sustainable energy future for all,” he added.
"The partnership we have entered into with Hitachi Energy is further reinforced by an equity investment in H2 Green Steel. The partners we choose to work with need to share our values, to make a real commitment to live up to the Paris Agreement, and to work tightly together to leverage each other’s strengths. With Hitachi Energy we have that, as well as their long history, broad experience, and innovative offerings,” says Henrik Henriksson, CEO of H2 Green Steel.
About Hitachi Energy Ltd.
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible, and secure whilst balancing social, environmental, and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 38,000 people in 90 countries and generate business volumes of approximately $10 billion USD.
About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.
About H2 Green Steel
H2 Green Steel (H2GS AB) was founded in 2020 with the ambition to accelerate the decarbonization of the steel industry, using green hydrogen. Steel, which is one of the world’s largest carbon dioxide emitters, is the company’s first business vertical. The founder and largest shareholder of H2 Green Steel is Vargas, which is also co-founder and one of the larger shareholders in Swedish battery maker Northvolt. H2 Green Steel is headquartered in Stockholm, Sweden, with its first green steel plant under development in Boden, northern Sweden. www.h2greensteel.com
AttachmentsTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Notice of Nexstim Plc’s Half-Yearly Report H1 20228.8.2022 09:00:00 CEST | Press release
Companyannouncement,Helsinki,8 August2022at10 AM(EEST) Noticeof NexstimPlc’sHalf-Yearly Report H1 2022 Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") will publish its half-yearly report for the six months ended 30 June 2022 on Friday 12 August 2022 at approximately 9:00 am Finnish time. The company will hold two live webinars for media, investors and analysts on Friday 12 August 2022. Mikko Karvinen CEO, and Joonas Juokslahti CFO, will present the financial and operational results followed by a Q&A session. The first live webinar will be in Finnish, and it will take place at 10:30 am EEST. The second live webinar will be in English at 3 pm EEST. Webinardetails: To attend the webinars, please register via the links below. Registered participants will receive more information to their e-mail. Live Webinar in Finnish on 12 August 2022 at 10:30 am (EEST): Sign up here >> Live Webinar in English on 12 August 2022 at 3 pm (EEST): Sign up here >> NEXSTIM PLC Mikko Karvinen, CEO F
Publicering av Nexstim Abp:s halvårsrapport för H1 20228.8.2022 09:00:00 CEST | Pressemelding
Företagsmeddelande,Helsingfors,8augusti2022 kl.10(EEST) Publicering av Nexstim Abp:s halvårsrapport för H1 2022 Nexstim Abp (NXTMH:HEX, NXTMS:STO) (”Nexstim” eller ”bolaget”) kommer att meddela sitt halvårsresultat för det gångna halvåret som avslutades den 30 juni 2022, på fredagen den 12 augusti 2022 cirka kl. 9.00 finsk tid. Bolaget ordnar två webbsända möten för analytiker, investerare och medier fredagen 12 augusti 2022. Verkställande direktör Mikko Karvinen och ekonomichef Joonas Juokslahti presenterar det finansiella resultatet och rörelseresultatet verifier deltagarna ges möjlighet att ställa frågor. Den första webbsändningen på finska börjar klockan 10.30 (EEST). Den andra webbsändningen på engelska börjar klockan 15.00 (EEST). Uppgifteromwebbsändningarna: Anmälning till webbsändningarna sker via länkarna nedan. De deltagare som anmält sig får närmare anvisningar per e-post. Webbsänt informationsmöte på finska 12 augusti 2022 klockan 10.30 (EEST): Till anmälan >> Webbsänt info
Sampo plc’s share buybacks 05/08/20228.8.2022 07:30:00 CEST | Press release
SAMPO PLC STOCK EXCHANGE RELEASE 08/08/2022 at 08:30 am Sampo plc’s share buybacks 05/08/2022 On 05/08/2022 Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI0009003305) as follows: Sampo plc’s share buybacksAggregated daily volume (in number of shares)Daily weighted average price of the purchased shares*Market (MIC Code)14,33944.37AQEU14,45644.38CEUX7,48944.42TQEX78,18844.36XHELTOTAL114,47244.37 *rounded to two decimals On 9 June 2022, Sampo announced a share buyback programme of up to a maximum of EUR 1 billion in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. The programme, which started on 10 June 2022, is based on the authorization granted by Sampo's Annual General Meeting on 18 May 2022. After the disclosed transactions, the company owns in total 5,603,062 Sampo A shares representing 1.05 per cent of the total number of shares in Sampo plc. Details of ea
CONDITIONS FOR RIKSBANK BID PROCEDURE KOMMUNINVEST BONDS5.8.2022 16:20:00 CEST | Press release
Bid procedure, 2022-08-09BondsKOMMUNINVEST I SVERIGE: 2602. SE0013745452. 2026-02-04 KOMMUNINVEST I SVERIGE: 2706, SE0016829048, 2027-06-15 BidsBids on interest and volume are entered via Bloomberg Bond Auction SystemBid date2022-08-09Bid times10.00-11.00Requested volume (corresponding nominal amount)2602: 200 mln SEK +/-100 mln SEK 2706: 200 mln SEK +/-100 mln SEK Highest permitted bid volume (corresponding nominal amount)2602: 200 mln SEK per bid 2706: 200 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 11.15 (CET/CEST) on the Bid dateDelivery and payment date2022-08-11Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383General Terms and ConditionsGeneral Terms and Conditions General Terms and Conditions för the Riksbank’s Purchases of Bonds via Bid Procedure 2020:3. dated 20 November 2020 (see the Riksbank´s web). Stockholm, 2022-08-05 This i
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS5.8.2022 16:20:00 CEST | Press release
Bid procedure, 2022-08-11BondsSWEDBANK HYPOTEK AB: 197. SE0016828529. 2027-03-17 SKANDINAVISKA ENSKILDA: 581, SE0013102043, 2026-12-16 DANSKE HYPOTEK AB: 2612, SE0015987540, 2026-12-16 NORDEA HYPOTEK AB: 5535, SE0013358413, 2025-09-17 Bid date2022-08-11Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)197: 200 mln SEK +/-100 mln SEK 581: 200 mln SEK +/-100 mln SEK 2612: 100 mln SEK +/-50 mln SEK 5535: 150 mln SEK +/-100 mln SEK Highest permitted bid volume (corresponding nominal amount)197: 200 mln SEK per bid 581: 200 mln SEK per bid 2612: 100 mln SEK per bid 5535: 150 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 10.15 (CET/CEST) on the Bid dateDelivery and payment date2022-08-15Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383 Stockholm, 2022-08-05 This is a translation of the special terms and