Photo: CNBC
HYBRIT Develops World's First 'Fossil-Free Steel'
HYBRIT, a Swedish steel company, developed the world's first fossil-free steel. As part of a test run, steel was sold to Volvo. If the project is successful, the company intends to begin mass manufacturing cars built of material by 2026. HYBRIT's goal is to replace coking coal with hydrogen and renewable electricity. It hopes to “significantly reduce the global carbon footprint of the steel industry,” said Martin Lindqvist, CEO of SSAB.
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