SSAB has been selected for awards negotiations for up to USD 500 million in funding from the U.S. Department of Energyfor a potential construction of a HYBRIT® manufacturing facility, capable of producing fossil free iron by using green hydrogen instead of fossil fuels. The project will also explore the possibility to expand capacity and capability at SSAB's steel manufacturing operations in Montpelier, Iowa, including increased use of renewable energy.
This initiative would enable SSAB to expand its sustainable domestic supply chain for steel products and also to advance the U.S. renewable energy transition objectives in response to the Bipartisan Infrastructure Law and the Inflation Reduction Act.