Swedish startup H2 Green Steel is partnering with a world leader in direct reduction ironmaking technology for the steel industry Midrex. Midrex’s owner, Kobe Steel is further solidifying the partnership by investing in H2 Green Steel as part of its Series B financing round. H2 Green Steel will build the world’s first facility for direct reduced iron running on 100% green hydrogen, based on Midrex’s technology. The Midrex H2 Plant will have a yearly production of 2.1 million tonnes of hot DRI and hot briquetted iron that will feed the production of initially 2.5 million tonnes of green steel in Boden in northern Sweden. This first-of-a-kind DRI plant will be provided by a consortium of Midrex and Paul Wurth, an SMS group company.H2 Green Steel’s purpose is to decarbonize hard-to-abate industries, starting with steel. Its process will remove up to 95% of carbon emissions compared to traditional steelmaking with a blast furnace. The bulk of the emission reductions will happen with Midrex’s technology when iron ore is reduced to sponge iron. The companies will also work together for optimization services in the DRI-process.Midrex is a wholly owned subsidiary of Kobe Steel, and sealing the partnership further, Kobe Steel has made an investment in H2 Green Steel. In addition, Kobe Steel has begun discussions with H2 Green Steel for the possible purchase of green HBI in the future. H2 Green Steel may have some over-capacity of HBI in the transition for the company’s production to reach full capacity.