H2 Green Steel and Hydro Havrand partnership eye green hydrogen production at scale

H2 Green Steel and Hydro Havrand partnership eye green hydrogen production at scale

(PRESS RELEASE) OSLO, 13-Oct-2022 — /EuropaWire/ — Norsk Hydro ASA (OTCMKTS: NHYDY), a Norwegian aluminium and renewable energy company committed to a sustainable future, has announced that its renewable hydrogen subsidiary Hydro Havrand will enter into a partnership with H2 Green Steel, a recently established Sweden-based green hydrogen solutions company, with the aim of exploring  green hydrogen production at scale. 

In Brazil, the companies are aiming to establish a greenfield project to produce green hydrogen. If realized, the hydrogen production facility will enable approximately 5 million tonnes of green steel through direct iron reduction, in a plant owned by H2 Green Steel, abating approximately 9,5 million tonnes of CO₂ per year. In addition, the parties are evaluating supplying green hydrogen to other off takers in hard-to-abate sectors. The companies are also looking into possibilities for a large scale, green hydrogen facility in the Nordics.

“For the hard-to-abate sectors, green hydrogen is key to reach net-zero. This partnership is built on our companies’ complimentary capabilities in green hydrogen, and combine Hydro Havrand’s industrial and energy expertise with H2 Green Steel’s capabilities in the decarbonization of the steel industry. This demonstrates our resolve to decarbonize hard-to-abate industries through strong industrial partnerships,” says Per Christian Eriksen, Head of Hydro Havrand.

Under the MoU, the parties will also collaborate on topics like hydrogen production plant design requirements, system standardization and optimization. There will be dedicated, combined efforts to ensure security of supply, and safe operations for hydrogen production, storage and utilization.

“With this partnership H2 Green Steel takes an even clearer direction into the green hydrogen economy. When we choose partners to work with, we go to companies that share our values and that truly want to take action to transform hard-to-abate industries. We find that in Hydro Havrand and we complement each other’s competences and capacities,” says Kajsa Ryttberg-Wallgren, Executive Vice President and Head of Business Unit Hydrogen at H2 Green Steel.

In pursuing these opportunities, Hydro Havrand can draw on its energy capabilities as part of Hydro, including Hydro Energy Markets and Hydro Rein, to enable competitive power cost.

All projects are pending successful feasibility studies and market conditions and will be subject to obtaining any necessary regulatory clearances. The ambition is to execute projects from the second half of the decade.

About Hydro Havrand

Hydro Havrand offers green hydrogen solutions to help bring the world to net-zero emissions. W​e will develop, own and operate green hydrogen facilities, and provide expertise to enable our customers’ transition to renewable energy. Hydro Havrand is an industrial venture with global ambitions, building on over 115 years of Hydro’s experience within renewable energy, green hydrogen production and industrial development. ​Hydro Havrand is maturing projects across the aluminium value chain in the Hydro portfolio, as well as pursuing external partnerships.

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

Media contacts:

Line Haugetraa
Head of Investor Relations
+47 41406376
line.haugetraa@hydro.com

Vibeke Mohn Herberg
Head of Communication and Public Affairs, Hydro Havrand
+47 936 34 974
vibeke.herberg@hydro.com

SOURCE: Norsk Hydro ASA