H2 Green Steel (H2GS), a Swedish steel manufacturer, has successfully secured an additional €4.5 billion in funding for its flagship green steel production facility located in Boden, Sweden. With this latest round of financing, the Swedish start-up has accumulated close to €6.5 billion. The project would represent the world’s first large-scale green steel plant, incorporating approximately 1 GW of electrolyzers – which would also make it the largest green hydrogen facility in Europe. The steel industry is responsible for around 10% of global carbon emissions due to the presence of natural gas and coal in the manufacturing process. The dominant BF/BOF (blast furnace/basic oxygen furnace) pathway represents 69% of global output and involves reducing iron ore in a blast furnace…