H2 Green Steel signs binding offtake deal with Mercedes-Benz
Mercedes-Benz AG and H2 Green Steel secure supply deal. Image by Mercedes-Benz Group.
Swedish industrial start-up H2 Green Steel has signed a binding agreement with Mercedes-Benz Group AG (ETR:MBG) to deliver about 50,000 tonnes of green steel a year for the carmaker’s European press shops, the two said on Wednesday.
Mercedes-Benz is an equity investor in the Swedish firm, which plans to start production in 2025. The steel will be supplied from H2 Green Steel’s green hydrogen-powered iron and steel plant in Boden, northern Sweden and will be launched in various Mercedes-Benz vehicle models.