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
-
113 CCS Projects: What's Driving the Surge?
Inside This Issue 🏭 Global CCS Hits 113 Projects as Americas Lead Capacity 💰 We're Moving $2M+ to Climate Solutions 💧 China Launches World's First Semi-submersible Offshore Wind-to-hydrogen Platfo...
-
Why Is Wyoming Giving 650,000 Acres to Carbon Storage?
Inside This Issue 🪨 Inside Blm's 650,000-Acre Bet on Wyoming Carbon Storage 🏭 California Advances Carbon Capture and Removal Regulations Under SB 905 ⚡ Why a Japanese Power Giant Is Betting on Den...
-
Colorado Joins the 7-State CCS Permit Fast Lane
Inside This Issue ⚖️ Colorado Takes Over Class VI Permits: What Changes for CCS? 🏭 Hebei Shoulang Facility Using LanzaTech Technology Achieves World’s First ISCC EU RCF Certification for Ethanol P...
Company Announcements
-
China Launches World's First Semi-Submersible Offshore Wind-to-Hydrogen Platform
The world's first semi-submersible offshore wind-to-hydrogen platform has floated in Jiangmen, south China's Guangdong Province, opening a new avenue for the development and utilization of clean ma...
-
We’re Moving $2M+ to Climate Solutions
New companies, new ways to back existing ones, and every purchase built to pull in more capital We’re adding new companies to our portfolio and getting creative with how we put more money behind e...
-
Citi Closes $72 Million Carbon Removal-Linked Note to Support Applied Carbon Biochar Project
HIGHLIGHTS Citi structured an innovative $72 million carbon removal-linked note to provide upfront capital for Applied Carbon's biochar project, marking a first-of-its-kind "outcome bond" for ver...
-
New platform opens access to the same rigorous project evaluations trusted by the world's leading carbon removal procurement programs Today, Relae (formerly Carbon Direct) launched The Diligence C...