Zurich, SWITZERLAND - Memorandum of Understanding outlines collaboration to support the decarbonization of the steel industry.

Hitachi Energy has announced that it has signed a Memorandum of Understanding (MoU) with H2 Green Steel to leverage electrification, digitalization, and hydrogen to support the decarbonization of the steel industry.

The MoU outlines a collaboration that is built on three pillars:

1.  Hitachi Energy's equity investment in H2 Green Steel;
2.  products and services from Hitachi Energy that are needed to construct and improve the electrical infrastructure to power steel production and giga scale electrolyzer plants;
3.  green steel to be used in the manufacturing of Hitachi Energy's products, once H2 Green Steel starts production.

"Achieving carbon-neutrality globally requires efforts from all industries to speed up the energy transition through collaborations," says Johan Söderström, Head of Europe, Middle East, and Africa at Hitachi Energy. "This collaboration with H2 Green Steel is a pioneering example of how we are working together and creating additional benefits for our customers. We are supporting H2 Green Steel's electrification project and at the same time, we are able to secure green steel for our products, which is in line with our Purpose: Advancing a sustainable energy future for all," he added.  

"The partnership we have entered into with Hitachi Energy is further reinforced by an equity investment in H2 Green Steel. The partners we choose to work with need to share our values, to make a real commitment to live up to the Paris Agreement, and to work tightly together to leverage each other's strengths. In Hitachi Energy we have that, as well as their long history, broad experience, and innovative offerings," says Henrik Henriksson, CEO of H2 Green Steel.

Source: Hitachi Energy