Purmo Group in 7-Year Agreement with H2 Green Steel for Near Zero Emission Steel Supply
Published by Todd Bush on November 6, 2023
STOCKHOLM, Nov. 6, 2023 /PRNewswire/ -- Purmo Group, a leader in sustainable indoor climate comfort solutions, has entered into a binding agreement with H2 Green Steel, for the delivery of 140,000 tonnes of green steel during 2026-2033.
The deliveries will support Purmo Group in its further advancement in sustainability. Steel represents approximately 50% of all raw material purchases in the Group.
"This is an excellent collaboration with H2 Green Steel and another milestone in our sustainability journey towards carbon neutrality. With this agreement, we will be pioneers in our industry, securing the supply of green steel and starting the production of green steel products. Among these, our heat pump radiator range is an important product group in our core markets, where the energy renovation trend is strong. Our customers are demanding new and more energy-efficient heating and cooling systems and Purmo Group is well positioned to fulfil this growing demand", comments John Peter Leesi, CEO of Purmo Group.
H2 Green Steel's integrated, digitalized, and circular plant is located in Boden, northern Sweden and will start production end of 2025. The plant is integrated with the world's largest electrolysis plants and is powered by green hydrogen produced with renewable electricity. It enables the reduction of CO₂ emissions by up to 95% compared to traditional steelmaking powered by coal.
"Purmo Group is a pioneer in another important customer segment for the steel industry. They are a great example of a company that is letting its business decisions truly be guided by its commitment to sustainability and achieving the Paris Agreement. At H2 Green Steel, we applaud these first-mover companies in different sectors. They really make a difference,", says, Henrik Henriksson, CEO of H2 Green Steel.
Purmo Group's decision to source green steel from H2 Green Steel is part of the Group's ambitions to align its productions towards a 1.5° Celsius future and carbon neutrality by 2025.
The following files are available for download:
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Latest issues
-
Why Bloom Energy Just Landed $1.7B Bet
Inside This Issue 🔋 Why $1.7B Is Betting on Fuel Cells Over Nuclear for AI 🍁 Air Canada and Airbus Launch Joint Initiative to Scale Domestic Canadian SAF and Help Reduce the Life-Cycle Emissions o...
-
Oil Sands Alliance Faces $43.7 Billion Price Tag
Inside This Issue 🍁 Alberta Cuts Carbon Costs to Fast-Track Pathways CCS 🏛️ EU Unveils Sweeping ETS Overhaul With €100 Billion Industrial Decarbonisation Bank 🌱 Consultation: Major Revision to Bio...
-
Wall Street Pours $1.7B Into Fuel Cells for AI
Inside This Issue 🔋 IDF, Oaktree to Invest $1.7 Billion in Bloom Energy Fuel Cells for AI Infrastructure 🌬️ Airhive Acquires Carbyon, Creating a European Leader in Low-Cost Direct Air Capture Tech...
Company Announcements
-
Sustainable aviation fuel (SAF) could become a major driver of Canada's industrial and economic growth, while contributing to the global aerospace industry's aspirational goal to achieve 'net-zero ...
-
Turkish Airlines Joins SAFFA Fund
NEW YORK -- Turkish Airlines, the airline that flies to more countries than any other airline, signed an agreement to participate in SAFFA Fund I, LP (SAFFA Fund or Fund), an investment fund manage...
-
JERA Co., Inc. (JERA), a global energy leader and Japan's largest power generation company, today announced that it has signed a Memorandum of Understanding (MoU) with Samsung C&T Corporation (...
-
ZeroAvia and Safran Forge Partnership on Hydrogen-Electric Technologies
ZeroAvia and Safran have announced the launch of a collaboration dedicated to hydrogen-electric propulsion technologies for aviation. This partnership combines ZeroAvia’s cutting-edge expertise in ...