Swedish power company Vattenfall AB, mining company LKAB and steel manufacturer SSAB plan to spend 150 million Swedish kronor to build a hydrogen gas storage facility at the HYBRIT pilot plant for fossil-free steel.
The Swedish Energy Agency is also contributing almost 50 million kronor for the construction of the project, according to an Oct. 3 news release.
The facility will be built 25 meters to 35 meters below the ground surface on LKAB's land in Svartöberget, which is close to the pilot plant being constructed on the Luleå site of SSAB.
Construction is scheduled to begin in 2021 and the project is expected to operate from 2022 to 2024.
As of Oct. 02, US$1 was equivalent to 9.87 Swedish kronor.
