This DW News report examines Europe’s push toward commercial green steel production, featuring a Swedish pilot plant using hydrogen instead of coal to refine iron ore, alongside analysis from Nicole Voigt, Managing Director and Partner at Boston Consulting Group.
Key insights:
Green hydrogen is produced via electrolysis from renewable electricity and used to replace coal in iron refining.
Roughly 40% of Europe’s blast furnace capacity could convert to green steel if current industry plans materialize.
Green steel may cost around 70% more than conventional steel by 2030, adding only about 250–300 euros to a car’s overall cost.
Truly green steel requires emissions below 400 kg of CO2 per ton, compared to today’s much higher levels.
Scaling the industry will require significant government capex support and renewable infrastructure.