H2 Green Steel to supply Volvo with near-zero emissions steel to reduce environmental footprint of Volvo's commercial vehicles; deliveries will start mid-2026

September 14, 2023 (press release) –

H2 Green Steel collaborates with Volvo Group for supply of near zero emissions steel.

As commercial vehicles increasingly run on electrified solutions, reducing the emissions when the product is in use, the environmental footprint from the supply network and production becomes increasingly important. Since steel is one of the main input materials in the manufacturing of trucks, buses and construction machines, a shift towards green steel is a vital element for Volvo Group's continued journey towards decarbonization.

"Collaborations which support our work to reduce emissions are crucial on the path towards net zero. Steel is a big contributor to the footprint of our products, and working together with both established and new players for developing decarbonized materials is key to advancing our progress in sustainable transport and infrastructure solutions", says Andrea Fuder , Chief Purchasing Officer of Volvo Group .

The long-term supply agreement placed from Volvo Group is for green steel from H2 Green Steel's new plant in Boden in Northern Sweden . Start of production is planned for end of 2025. Deliveries to Volvo Group will start mid-2026.

"The commercial vehicle industry has actively been driving the demand for green steel, validating the market interest. When an undeniable large player like Volvo Group , working at the forefront of sustainable change, places a customer order it's a clear sign of confidence in both our company and our product," says Henrik Henriksson , H2 Green Steel's CEO.

For further information
Karin Hallstan, Head of Public and Media Relations, phone: +46 76 842 81 04, email: press@h2greensteel.com

Claes Eliasson , Volvo Group Media Relations, phone: +46 76 553 72 29

About Volvo Group
The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden , employs more than 100,000 people and serves customers in almost 190 markets. In 2022, net sales amounted to SEK 473 billion ( EUR 45 billion ). Volvo Group shares are listed on Nasdaq Stockholm.

About H2 Green Steel
H2 Green Steel ( H2GS AB ) was founded in 2020 with the ambition to accelerate the decarbonization of the steel industry, using green hydrogen. Steel, which is one of the world's largest carbon dioxide emitters, is the company's first business vertical. The founder and largest shareholder of H2 Green Steel is Vargas, which is also co-founder and one of the larger shareholders in Swedish battery maker Northvolt. H2 Green Steel is headquartered in Stockholm, Sweden , with its first green steel plant under development in Boden, northern Sweden . www.h2greensteel.com

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