Linde Signs Agreement to Supply Industrial Gases to World’s First Large-Scale Green Steel Plant
Rhea-AI Summary
Linde has signed an agreement with H2 Green Steel to supply industrial gases to the world's first large-scale green steel production plant. They will invest $150 million in an on-site air separation unit in Sweden, which is expected to reduce carbon emissions by up to 95% compared to traditional steelmaking. Linde's new ASU will start up by 2026 and will also supply gases to Linde's other customers in the local market.
Positive
Linde's agreement with H2 Green Steel showcases their commitment to decarbonizing the steel industry through innovative technology and partnerships.
The investment of $150 million in the on-site air separation unit demonstrates Linde's dedication to supporting sustainable steel production.
Linde's new ASU in Boden, Sweden, is expected to significantly reduce carbon emissions, aligning with global efforts to combat climate change.
Negative
Linde's investment of $150 million in the new ASU may pose financial risks if the project faces delays or cost overruns.
The success of the green steel plant and the utilization of Linde's gases are dependent on the efficient operation and performance of the equipment, which could be subject to technical issues.
WOKING, UK / ACCESSWIRE / May 1, 2024 / Linde (NASDAQ:LIN) announced today it has signed a long-term agreement with H2 Green Steel for the supply of industrial gases to the world's first large-scale green steel production plant.
Linde will invest approximately
Linde's new ASU is expected to start up by 2026 and will also supply atmospheric gases to Linde's existing and new customers in the local merchant market.
"We are moving at full speed on the journey to accelerate the decarbonization of the steel industry through the construction of our plant in Boden. Air separation is an important part of this work, providing gases required in various stages of the steelmaking processes," said Maria Persson Gulda, Chief Technology Officer, H2 Green Steel. "We have come this far by working in strong partnerships. Linde's technology, combined with its operational experience both globally and in Sweden, made it a natural choice for us."
"Linde is committed to supporting industrial decarbonization through high-quality projects that utilize our complementary combination of assets, technology and knowledge," said Armando Botello, President Regions UK & Ireland and Europe North, Linde. "We are proud to support H2 Green Steel's pioneering project while creating additional value by increasing Linde's network density in a growing industrial region."
Separate to the supply of industrial gases, Linde Engineering has been awarded an engineering and procurement contract for a HIPURE™ pressure swing adsorption unit at H2 Green Steel's plant in Boden, to efficiently recover and purify hydrogen from the top gas of the direct reduction iron furnace. This minimizes the hydrogen losses and boosts the overall efficiency of the steel production.
About Linde
Linde is a leading global industrial gases and engineering company with 2023 sales of
The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases and technologies are used in countless applications including production of clean hydrogen and carbon capture systems critical to the energy transition, life-saving medical oxygen and high-purity & specialty gases for electronics. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.
For more information about the company and its products and services, please visit www.linde.com
| Contacts: | |
| Investor Relations Juan Pelaez Phone: +1 203 837 2213 Email: juan.pelaez@linde.com | Media Relations Anna Davies Phone: +44 1483 244705 Email: anna.davies@linde.com |
SOURCE: Linde plc
View the original press release on accesswire.com
FAQ
What agreement did Linde sign related to industrial gases and steel production?
Linde signed an agreement with H2 Green Steel to supply industrial gases to the world's first large-scale green steel production plant.
How much will Linde invest in the on-site air separation unit?
Linde will invest approximately $150 million to build, own, and operate an on-site air separation unit in Boden, northern Sweden.
When is Linde's new ASU expected to start up?
Linde's new ASU is expected to start up by 2026.
What does the new ASU in Boden, Sweden aim to achieve?
The new ASU in Boden, Sweden aims to reduce carbon emissions by up to 95% compared to traditional steelmaking.
What additional value does Linde aim to create through this agreement?
Linde aims to increase its network density in a growing industrial region while supporting H2 Green Steel's pioneering project in steel production.
