Schaeffler are the first tier 1 supplier worldwide to become a customer of the innovative start-up company H2greensteel (H2GS). Schaeffler has entered into an agreement with Swedish start-up company to purchase 100,000 tons of the virtually CO2-free steel, which is produced using hydrogen, on an annual basis.
“Steel purchasing is strategically important to Schaeffler,” states Andreas Schick, Chief Operating Officer at Schaeffler AG. “We process a significant amount of steel and view this as a crucial driver in supporting decarbonization.”
Klaus Rosenfeld, Chief Executive Officer of Schaeffler AG, says: “The use of green hydrogen for the direct reduction of iron ore is a crucial component in making steel clean and sustainable in the future. Hydrogen is an important technology and growth area for Schaeffler. Against this background, the partnership with H2greensteel is a very important step for us in ad-vancing the topic of sustainability.”
Schaeffler will source 100,000 tons of the steel, which is produced virtually CO2-free and with the use of hydrogen, from 2025.
Read the full Press release here
Invinity to build 20MWh flow battery in UK
Redux flow cells have had nowhere near the R+D effort compared to Lithium ion. They certainly have the potential (pun not intended) for longer...