BILSTEIN GROUP reduces CO2-footprint through deal with H2 Green Steel that exceeds €250 million

USA - English

• USA - English

STOCKHOLM, April 17, 2023 /PRNewswire/ -- BILSTEIN GROUP as a technology-driven solutions provider is a producer of cold rolled steel strip for customers in industries like automotive, tooling and furnishings. It has been in the steel processing business over 100 years and has now signed a seven-year agreement for the delivery of low carbon footprint steel from H2 Green Steel.

BILSTEIN GROUP was an early investor in H2 Green Steel and one of its first customers to sign an off-take agreement for green steel. This off-take agreement has been further detailed into a binding significant seven-year supply agreement with planned start of deliveries in 2026 from H2 Green Steel's plant in Boden in northern Sweden.

"The ambitious positioning of H2 Green Steel with the aim of producing CO₂-neutral steel as quickly as possible and setting up a greenfield project with an optimum process chain and state-of-the-art technology within a short time has thrilled us right from the beginning. The contract now signed is an important milestone for our company on the way to significantly reducing our carbon footprint as quickly as possible and ensuring that a large part of our raw material sourcing is 'green' by the end of the decade. This agreement brings the BILSTEIN GROUP an important step closer to the ambitious CO₂ reduction targets we have set for ourselves," says Marc T. Oehler, CEO and managing Partner BILSTEIN GROUP.

BILSTEIN GROUP is working with H2 Green Steel linked to its sustainability targets and to further reduce the emissions from its supply chain, where hot rolled steel accounts for more than 90 percent of the footprint of BILSTEIN GROUP's final product. The two companies also intend to work together to develop steel grades, share best practices on reducing the carbon footprint and develop a circular model to take back scrap from BILSTEIN GROUP's production sites to be recycled in H2 Green Steel's operations.

"BILSTEIN GROUP produces demanding cold rolled steel grades and works with high-end specialty production facilities which require exacting standards in some of the most demanding grades for any steel producer. Working with them is a real vote of confidence in our future sustainable steel production and a milestone achievement for us. Additionally, working with a family-owned company like BILSTEIN GROUP, with a lot of solid legacy which, combined with a strong and future-looking capability, makes them a very good partner to us", says Henrik Henriksson, CEO of H2 Green Steel.

CONTACT:

Karin Hallstan,
Head of Public and Media Relations,
phone: +46 76 842 81 04,
email: [email protected]

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SOURCE H2 Green Steel