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12 Leading Green Steel Companies In 2024

Are you curious about how steel production impacts our environment? Wondering what Green Steel is and how it can change the game? Look no further, as in this article, we’ll explore 12 leading Green Steel companies in 2024, highlighting their innovative technologies and how they are contributing to this world.
Steel production has long been criticized for its environmental impact, but with the rise of Green Steel, there’s hope for a more sustainable future.
Let’s discuss the world of Green Steel and discover the companies leading the charge toward a greener, cleaner steel industry.

Why Steel is Bad for Our Environment?

Steel production has long been recognized as a major contributor to environmental degradation. The blast furnace process and other conventional steel production techniques are highly energy-intensive and dependent on non-renewable sources like coal and natural gas.
The production of Steel is known to cause a significant carbon footprint, making it one of the major environmental concerns. During the process, a substantial amount of carbon dioxide (CO2) is released into the environment, leading to climate change and global warming. The steel sector is believed to be accountable for approximately 7-9% of the total global CO2 emissions.
Watch this video by wocomoDOCS to learn more about steel production:

Furthermore, steel production has other environmental impacts. The process of extracting natural resources like iron ore and limestone can have detrimental effects on the environment by causing habitat destruction and water pollution. Using coal and coke in the production process releases detrimental pollutants into the atmosphere and water bodies, thereby worsening the environmental issues.
Overall, the environmental impact of steel production is significant and needs to be addressed. Developing more sustainable methods, such as green steel production, is essential to reduce these impacts and create a more sustainable future.
But what is Green Steel? Let’s discuss this in detail.

What’s Green Steel?

Green Steel, also referred to as eco-friendly Steel, is produced using environmentally conscious methods and technologies. Unlike traditional steel production, which relies heavily on coal and coke as sources of fuel, the manufacturing process of Green Steel relies on renewable energy sources like wind, solar, and hydroelectricity that are environmentally sustainable.
Green Steel production employs hydrogen instead of carbon as a reducing agent, thus reducing carbon emissions during the process. This direct reduction method results in the production of Steel with much lower carbon emissions than conventional methods.
Green Steel places a great emphasis on utilizing recycled scrap steel as a primary raw material. This approach helps to minimize the requirement of extracting virgin iron ore and ultimately results in reduced overall energy consumption.
Green Steel’s objective is to lessen the adverse environmental effects of steel production by reducing carbon emissions, preserving natural resources, and advocating for a more sustainable method of steel manufacturing.
Now, let’s discuss some of the leading companies internationally that are working on green steel production and helping revive our beautiful planet.

12 Green Steel Companies in 2024

So here are the 12 leading green steel companies serving the Earth in 2024.

h2 Green Steel logo

H2 Green Steel

HQ Location
Stockholm, Sweden
Founded
2020
Num. of Employees
51-200
H2 Green Steel Homepage

H2 Green Steel is a pioneering company in sustainable steel production. Founded with a mission to revolutionize the steel industry, it focuses on producing high-quality Steel using renewable energy sources and innovative technologies.
Their approach centers around using green hydrogen as a reducing agent, significantly reducing carbon emissions compared to traditional steelmaking processes. H2 Green Steel is committed to promoting a more sustainable future by minimizing environmental impact and promoting the circular economy.

H2 Green Steel’s technology uses green hydrogen produced through electrolysis using renewable energy sources. This hydrogen is then used as a reducing agent in the direct reduction process, where iron ore is converted into iron without using carbon-intensive coke.
This process reduces carbon emissions and allows for the use of iron ore fines and other low-quality iron sources, minimizing waste and increasing resource efficiency.
The company’s innovative approach to steelmaking has garnered international attention and positions it as a leader in the green steel industry.

Hybrit logo

HYBRIT

HQ Location
Stockholm, Sweden
Founded
2017
Num. of Employees
11-50
Hybrit Homepage

HYBRIT (Hydrogen Breakthrough Ironmaking Technology) is a collaborative project involving Swedish companies SSAB, LKAB, and Vattenfall. The project aims to revolutionize the steel industry by replacing coking coal, traditionally needed for iron ore-based steelmaking, with fossil-free hydrogen.
This process emits water instead of carbon dioxide, significantly reducing steel production’s carbon footprint.

HYBRIT’s technology involves using hydrogen produced from renewable energy sources through electrolysis. Iron ore can be directly reduced using green hydrogen as a reducing agent. Typically, the reduction process involves the use of coking coal; however, green hydrogen can be an alternative to it.
After undergoing the necessary procedures, sponge iron is produced, which can then be utilized to manufacture steel. Steel production can be accomplished by using electric arc furnaces powered by renewable energy sources.
HYBRIT’s technology offers a sustainable alternative to traditional steelmaking processes. It eliminates the need for coking coal and utilizes renewable energy.

Boston Metal Logo

Boston Metal

HQ Location
Woburn, Massachusetts, USA
Founded
2012
Num. of Employees
51-200
Boston Metal Homepage

Boston Metal is a company specializing in molten oxide electrolysis (MOE), a technology that has the potential to revolutionize steel production. MOE allows for directly reducing metal oxides using electricity, eliminating the need for carbon-intensive processes like coking coal.
This method can substantially decrease carbon emissions and energy consumption compared to conventional steel production techniques.

Boston Metal’s MOE technology works by electrolyzing metal oxides at high temperatures, breaking them into constituent elements.

This process produces pure metal products and oxygen gas, with electricity as the only input. The company’s technology can be integrated into existing steelmaking processes, offering a cleaner and more sustainable alternative to conventional steel production methods.

SSAB logo

SSAB

HQ Location
Stockholm, Sweden
Founded
1978
Num. of Employees
10,001+
SSAB Homepage

SSAB is a prominent manufacturer of steel products known for their high strength. The company is dedicated to ensuring sustainability and has set challenging objectives to minimize its carbon footprint.

SSAB is actively developing and promoting Green Steel technologies, such as using hydrogen instead of coal in steel production, to reduce emissions and create a more sustainable steel industry.

SSAB’s technology focuses on using hydrogen to directly reduce iron ore, a process that eliminates the need for coking coal. This technology, known as HYBRIT (Hydrogen Breakthrough Ironmaking Technology), produces sponge iron, which can then be used to make high-quality Steel.
By transitioning to hydrogen-based steel production, SSAB has set a goal to make a substantial reduction in carbon emissions and play a significant role in creating a more environmentally-friendly future. alternative to conventional steel production methods.

Arcelormittal logo

ArcelorMittal

HQ Location
Luxembourg
Founded
2006
Num. of Employees
10,001+
ArcelorMittall Homepage

ArcelorMittal is one of the world’s largest steel producers, operating in over 60 countries. The company has made a firm commitment to mitigating its environmental impact and aims to achieve a significant reduction in its carbon emissions through ambitious targets.

ArcelorMittal is actively involved in developing and implementing Green Steel technologies, such as hydrogen in steel production, to reduce its carbon footprint and create a more sustainable steel industry.

ArcelorMittal is investing in several technologies to reduce its carbon emissions, including using hydrogen to directly reduce iron ore. The company is currently investigating options related to carbon capture and storage (CCS) technologies. The objective is to trap and retain carbon discharges produced by its steel manufacturing facilities.

By investing in Green Steel technologies, ArcelorMittal aims to become a leader in sustainable steel production and contribute to a greener future.

Voestalpine logo

Voestalpine

HQ Location
Linz, Austria
Founded
1938
Num. of Employees
10,001+
Voestalpine Homepage

Voestalpine is a leading European steel and technology company with a strong focus on innovation and sustainability. The company has taken steps to reduce its impact on the environment by implementing various measures to decrease its carbon footprint.

Voestalpine is actively developing and promoting Green Steel technologies, such as using hydrogen instead of coal in steel production, to reduce emissions and create a more sustainable steel industry.

Voestalpine is currently developing multiple advanced technologies to lower its carbon emissions. An emerging technology utilizes hydrogen to directly reduce iron ore. Additionally, the company is investing in renewable energy sources to power its steel plants and minimize its dependence on non-renewable energy sources.
Voestalpine is committed to promoting sustainable steel production and playing an active role in building a greener future by adopting and implementing Green Steel technologies.

By investing in Green Steel technologies, ArcelorMittal aims to become a leader in sustainable steel production and contribute to a greener future.

JSW Steel

JSW Steel

HQ Location
Linz, Austria
Founded
1982
Num. of Employees
5,001-10,000
JSW Homepage

JSW Steel is one of India’s leading steel producers with a strong focus on sustainability and environmental stewardship. The company has introduced various measures to minimize its environmental impact and encourage the production of eco-friendly Steel.
JSW Steel is actively involved in developing and implementing Green Steel technologies, such as using hydrogen and renewable energy sources in steel production, to reduce emissions and create a more sustainable steel industry.

JSW Steel is investing in innovative technologies to reduce its carbon emissions, including using hydrogen to directly reduce iron ore emissions. The company is currently investigating the possibility of utilizing sustainable energy sources like wind and solar power to operate its steel factories, with the objective of reducing its dependence on non-renewable fuels.
By embracing Green Steel technologies, JSW Steel aims to set a new standard for sustainable steel production in India and worldwide.

Helios logo

Helios

HQ Location
HaMerkaz, Israel
Founded
2018
Num. of Employees
11-50
Helios Homepage

Helios, based in HaMerkaz, Israel, is a trailblazer in the steel industry with its eco-friendly green steel technology. The company’s innovative Helios Cycle is a testament to its commitment to sustainability, offering a zero-emission iron extraction process that significantly reduces energy consumption and production costs.
Helios’s vision extends beyond Earth as they develop technologies for space exploration. They aim to utilize metals and oxygen from extraterrestrial soil for future missions.

The Helios Cycle, a novel zero-emission iron extraction process, utilizes sodium as a reducing agent in a two-step process that outputs iron and oxygen while reclaiming sodium in a closed-loop system. This innovative method operates at significantly lower temperatures of 400°C to 700°C, resulting in 50% less energy consumption and at least 20% reduction in production costs.

With no direct carbon emissions and compatibility with low-grade ores, Helios’s technology paves the way for a sustainable future in steel production and beyond, even extending its vision to space with technologies for extracting metals and oxygen from Martian and lunar soil.


Electra logo

Electra

HQ Location
Colorado, USA
Founded
2020
Num. of Employees
51-200
Electra Homepage

Electra is an innovative startup dedicated to developing carbon-neutral steel production methods. With a firm commitment to sustainability, the company is at the forefront of creating a greener future for the steel industry.

Electra’s vision is to revolutionize steel production by utilizing clean energy sources, significantly reducing the environmental impact of traditional steelmaking processes.

Electra’s groundbreaking technology involves the use of electrolysis to produce Steel, effectively eliminating the need for coal and drastically cutting down on greenhouse gas emissions.

The company’s approach aims to make steel production more environmentally friendly while also enhancing cost-effectiveness.
The steel industry can move closer to sustainability and lower carbon emissions by implementing Electra’s technology.


Carbon Re Logo

Carbon Re

HQ Location
London, UK
Founded
2020
Num. of Employees
11-50
Carbon Re Homepage

Carbon Re is a forward-thinking technology company focused on reducing carbon emissions in heavy industries, including steel production. With a mission to drive sustainability, Carbon Re provides AI-driven solutions that optimize energy efficiency and minimize the carbon footprint.

The company’s innovative approach aims to transform the steel industry, making it more eco-friendly and sustainable for future generations.

Carbon Re’s cutting-edge technology leverages artificial intelligence to analyze and optimize the steel production process.

The company’s solutions utilize advanced sensors, data analytics, and machine learning algorithms to significantly reduce energy consumption and emissions. Carbon Re’s technology can be seamlessly integrated into existing steel plants, enhancing their sustainability and operational efficiency.

Smart Steel_Technologies Logo

Smart Steel Technologies

HQ Location
 Düsseldorf, Germany
Founded
2019
Num. of Employees
51-200
Smart Steel Technologies Homepage

Smart Steel is a dynamic company specializing in digital solutions for the steel industry. Its focus is on enhancing sustainability and efficiency. The company offers innovative tools and technologies that optimize production processes, reduce environmental impact, and improve overall performance.

Smart Steel’s commitment to sustainability is reflected in its efforts to develop solutions that benefit the industry and contribute to a healthier planet.

Smart Steel’s technology portfolio includes advanced sensors, data analytics, and machine learning algorithms designed to improve steel manufacturing processes. By providing real-time insights and optimizing production parameters, their solutions help reduce energy consumption, minimize waste, and lower emissions.

Smart Steel’s technologies enable steel manufacturers to achieve greater sustainability while maintaining high-quality production standards.

Gravithy logo

GravitHy

HQ Location
Paris, France
Founded
2022
Num. of Employees
11-50
Gravithy Homepage

GravitHy is a pioneering company focused on developing green hydrogen-based solutions for the steel industry. With a mission to decarbonize steel production, GravitHy’s goal is to substitute conventional fossil fuels with hydrogen, which will lead to a noteworthy reduction in carbon emissions and help in establishing a more sustainable industry.

The company’s innovative approach is poised to transform steelmaking, aligning it with global environmental goals and reducing its ecological footprint.

GravitHy’s approach is to generate eco-friendly hydrogen using water electrolysis, which is powered by renewable energy sources. This hydrogen is used as a clean and sustainable reducing agent in steelmaking, replacing carbon-intensive fossil fuels.

By integrating green hydrogen into steel production, GravitHy is leading the way in creating a more environmentally friendly and sustainable steel industry for the future.

Conclusion

In conclusion, the steel industry is undergoing a significant transformation, with a growing focus on sustainability and environmental responsibility. This article features a list of 12 prominent companies that are leading the way toward a sustainable future by adopting innovative technologies and practices to reduce carbon emissions.

Frequently Asked Questions

What is green steel?

Green steel is steel produced using methods that significantly reduce carbon emissions compared to traditional steel production, often incorporating renewable energy sources and innovative technologies.

What sustainable methods are used in green steel production?

Sustainable methods include using hydrogen instead of coal in the reduction process, electric arc furnaces powered by renewable energy, recycling scrap steel, and carbon capture and storage technologies.

How do these green steel companies contribute to sustainability?

These companies reduce the carbon footprint of steel production, minimize environmental pollution, promote recycling, and support the transition to a low-carbon economy.

What are the benefits of using green steel in construction and manufacturing?

Benefits include lower greenhouse gas emissions, improved environmental performance, potential cost savings from energy efficiency, and enhanced corporate sustainability credentials.

What challenges do green steel companies face?

Challenges include high production costs, scaling up innovative technologies, market acceptance, and regulatory and policy support to compete with traditional steel production methods.

References

Science Direct: Decarbonizing the Iron and Steel Industry Review
Center for Sustainable System: Carbon Footprint Factsheet
IEA: What is the Role of Renewables in Clean Energy Transitions?
UN Environment Programme: Emissions Gap Report 2023

 

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