Stegra

More powerful news ?? In a long-term agreement with Uniper we have have secured a yearly supply of electricity ranging from 2027-2032, covering a total of 6 TWh. Significant volumes of electricity are needed to power our 700MW electrolysis plant that will generate green hydrogen, which in turn will reduce iron ore to green sponge iron that will feed the steel production at our plant in Boden. Through this collaboration with Uniper, we have secured another important component of our plant's electricity supply. Read more about the news at our website!

2 TWh of electricity coming up ?? We have signed a power purchase agreement with Axpo Nordic for the supply of electricity to our integrated plant in Boden. Under the agreement, Axpo Nordic will supply 2.25 TWh of electricity over three years, starting in 2027. Axpo is a pioneer of power purchase agreements in the Nordics and great example of an innovative player on the electricity market. They are a good partner for us at Stegra in securing electricity for our large-scale production of hydrogen, iron and steel in Boden. Read more about the news here: https://lnkd.in/dcjitMtP

?? Heavy transports incoming! ?? This past weekend, the first of three massive transports was carried out between Lule? and Boden, hauling heavy equipment to our Site. The equipment will be used in Lindes air separation unit to process essential gases for our green hydrogen, green iron and green steel plant. The transports including vehicles, trailer and equipment weighs several hundred tonnes together, with the largest single equipment piece weighing in at about 250 tonnes! For the past few weeks, construction crews have been working to reinforce several roundabouts in preparation for the massive transports. We appreciate the patience of the community while the work is ongoing!

??? Yesterday, exactly one year after the first steel was raised at the hot side of our steel plant, the first steel construction was raised at the cold rolling mill! ??? This is a big milestone for us, as the cold rolling mill is where we will produce most of our end products, such as cold rolled and galvanized steel. We are excited for more progress to come! Stay tuned for updates.

Last week our lenders visited us in Boden! Around 80 representatives from different banks and investment funds came to see and experience the construction of our plant for green hydrogen, green iron and green steel. The purpose was both to show the progress we have made, and to celebrate some of the big financing milestones from the past few quarters. The group also got the chance to sign a steel beam that is now mounted in the steel mill! Getting the Boden project financing in place required a lot from our investors and lenders to understand our business case and to get through the large, complex financing package required for an industrial decarbonisation project of this scale. So it’s special to be able to show our lenders how far we’ve come! Thanks for coming to Boden!

Why is green iron key for green steel? This step is where most of the emission reductions occur when compared to traditional steelmaking. By reducing iron ore with green hydrogen instead of fossil fuels, the main byproduct is water instead of carbon dioxide. Powered by renewable energy, our direct reduction reactor is an essential part of our process, making it possible for us to produce green steel at scale.

A Stegra shoutout from the President of the European Commission! Last week, in her introductory remarks at the Renewable Hydrogen Summit in Brussels, President Ursula von der Leyen highlighted Stegra as a frontrunner in the green industrial transition and among the largest renewable hydrogen projects globally! We are grateful for the recognition, as well as the support of the European Innovation Fund! The European Union has decided on policy frameworks, like the revised Emissions Trading System and the Carbon Border Adjustment Mechanism, that incentivize investments in green industry. Continued implementation from both national governments and the European Union are essential for projects like ours to succeed and to continue accelerating the growth of green industry in Europe.

??? Construction update! ??? Recently, the team in Boden installed the hot DRI bins, which will hold direct reduced iron as it makes its way from the DRI tower to the melt shop. The bins are not only the first pieces of process equipment to be installed, they are also a key interface between the green iron plant and the steel mill!

What makes green hydrogen green? Our giga-scale electrolyzer, which we will use to produce green hydrogen, will not only be Europe's largest, but also one of the biggest in the world! Green hydrogen, produced from water using 100% renewable electricity, has the potential to transform hard-to-abate industries, starting with steel and iron.

The days are getting shorter in Boden, but progress at the world's first large-scale green steel plant continues apace. Europe's first new steel mill in 50 years is taking shape, with game-changing innovations that make it possible for us to produce near-zero emission steel, setting a new industry standard. We're shaping a cleaner world for future generations.