The steel industry, responsible for about 8% of global greenhouse-gas emissions, is on the brink of a significant transformation. New manufacturing methods are emerging to clean up heavy industry, with companies like Stegra (formerly H2 Green Steel) leading the charge. Stegra is set to launch the world’s first commercial green steel plant, utilizing hydrogen from renewable sources. This initiative, which has raised nearly $7 billion, aims to produce steel by next year. Despite the higher cost of green steel, Stegra has already secured customers. Other efforts, like Sweden’s Hybrit and startups such as Boston Metal and Electra, are also tackling similar challenges in funding and market acceptance. These developments signal a pivotal moment for climate technology, as the industry moves from research to real-world application.
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