H2 Green Steel has signed a 7-year agreement with Italian steel group Marcegaglia, covering the delivery of green steel from H2 Green Steel’s plant in Boden, Sweden, to Marcegaglia’s operations in Southern Europe, UK and Poland.

Marcegaglia currently has 37 steel plants across three continents with core business activities that cover flat and welded pipes insulation, construction, and guardrail divisions, stainless steel long products, flat products, tubes and cold drawn bars and heavy plates.

''We believe in the partnership approach in business, and we took this approach from day one with H2 Green Steel as they are a key player for us on our decarbonization journey which is essentially all about future-proofing our business.”

Antonio Marcegaglia, chairman and CEO at Marcegaglia Steel

“H2 Green Steel came in as a challenger in a traditional market a couple of years ago, and have proven with speed, perseverance, and a great team that they are a force to be reckoned with. We believe in the partnership approach in business, and we took this approach from day one with H2 Green Steel as they are a key player for us on our decarbonization journey which is essentially all about future-proofing our business”, said Antonio Marcegaglia, chairman and CEO at Marcegaglia Steel.

Marcegaglia is both an investor in H2 Green Steel and an early off-take customer. According to a press release issued by H2 Green Steel, the partnership between the two companies began as an off-take agreement, which then converted into a €1.79 billion seven-year supply agreement.

“This is a very milestone agreement for us at H2 Green Steel and a real celebration on our journey.''

Henrik Henriksson, CEO at H2 Green Steel

“This is a very milestone agreement for us at H2 Green Steel and a real celebration on our journey. Not only for the value of about €1.79 billion, but also because of the quality player that Marcegaglia is in the steel industry. Marcegaglia have been true partners to H2 Green Steel. They challenge us every step of the way, but are incredible supporters of our team and our project”, commented Henrik Henriksson, CEO at H2 Green Steel.