As a clear sign of a strong customer demand for green steel, H2 Green Steel has signed customer contracts in different industries of more than 5-7 years for over 1.5 million tonnes per year out of the planned initial yearly production volume of 2.5 million tonnes that it will produce from 2025 onwards. H2 Green Steel CEO Mr Henrik Henriksson said “When we launched H2 Green Steel about a year ago, we kicked the transformation of the steel industry into a new gear and other players in the industry have moved up their timelines. We are leading the way, showing that it is possible to transform the carbon-intense steel industry quickly, and others are speeding up and stepping up. This is exactly what we want. On top of that, the feedback from customers has been phenomenal and their long-term commitments are keys for us to scale up further.”Most of the customers pioneering the green transition with H2 Green Steel have signed up for Science Based Targets covering not only scope 1 and 2 but also scope 3 emissions. This accelerates their determination to change. These companies want to drastically reduce the carbon footprint within in their products because they realize that this is what their customers are demanding in turn, both today and in the future, and they are willing to pay premium for it. The demand for green steel by far exceeds what was expected, and the interest is coming from a broad range of industries. The sectors recognized as frontrunners driving this change include steel service centers, pipe and tube, passenger vehicles and heavy commercial vehicles, white goods and construction products. Examples of customers that have signed term sheets or supply agreements for steel so far with H2 Green Steel include Adient, BE Group, BILSTEIN GROUP, BMW Group, Electrolux, Kingspan, Klöckner & Co, Lindab, Marcegaglia, Mercedes-Benz, Miele, Mubea, Purmo Group, Roba Metals, Scania, Schaeffler, Zekelman Industries and ZF Group.Stockholm Sweden based H2 Green Steel was founded in 2020 with the ambition to accelerate the decarbonization of the steel industry, using green hydrogen. The founder and largest shareholder of H2 Green Steel is Vargas, which is also co-founder of Swedish battery maker Northvolt. H2 Green Steel is headquartered in Stockholm, Sweden, with its first green steel plant under development in Boden, northern Sweden.