A company called Stegra is close to launching the world’s first commercial green steel plant, which will make the metal using hydrogen from renewable sources. (You may know this company by its earlier name, H2 Green Steel(As such we included it in our list of climate tech companies to watch in 2023.)
When I first started following Stagra a few years ago, its plans for a giant green steel plant seemed incredibly far-fetched. Now the company says it is on track to produce steel at the factory Next year.
The biggest challenge in this space is money. Building a new steel plant is expensive – Stagra raised about $7 billion. And since the company will be more expensive to produce than traditional materials, it will need to find customers willing to pay (so far, it has).
There are other efforts to clean steel that will all face similar challenges around money, including another play in Sweden called Hybrid and startups like Boston Metal and Electra, which use different processes. Read more about green steel, and the potential hurdles it faces as we enter a new phase of commercialization. This short blurb And in this Long feature about Stagra.
Remedies for cow burp
Humans like burgers and steaks and milk and cheese, so we raise a whole bunch of cows. The problem is, these animals belong to a group with a funky digestive process that produces methane (a powerful greenhouse gas). A growing number of companies are trying to develop solutions that help reduce their methane emissions.
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