H2 Green Steel and the BMW Group have signed a contract that sets out the terms of their carbon-focused partnership.
To help the BMW Group meet its tight deadlines for achieving Tier 3 emission reduction targets, H2 Green Steel will provide products that meet its gross carbon intensity per ton steel commitment.
Both companies have agreed to use 40% of pre-consumer steel scrap of the volumes returned to Green Steel's H2 electric arc furnaces for recycling.
“Working with progressive companies like the BMW Group motivates us to be better both in our own operations and in our value chain. It also pushes us to be an even better partner for our customers and raises the bar for industry peers on their journey to decarburization,” says Henrik Henriksson, CEO of H2 Green Steel.
H2 Green Steel is committed to producing its products using renewable electricity.
According to H2 Green Steel's definition of green steel, the key factors are actually reducing CO 2 emissions and improving production cycles. Therefore, raw steel must be produced from a combination of significant amounts of raw primary iron and scrap metal in a manufacturing process that uses electricity from renewable energy sources. The total CO 2 emissions of such a process must be more than 90% lower than conventional steel production in a blast furnace.
“We are committed to decarbonizing the steel industry. Collaboration with progressive companies such as the BMW Group encourages us to be better both in our own operations and in our value chain. It also motivates us to be an even better partner for our customers and raises the bar for our industry peers on the path to decarbonisation.” - Henrik Henriksson, CEO of H2 Green Steel.
