UK service centre signs H2 Green Steel deal

UK-based steel service centre SPM (Steel Processing Midlands) has entered into a supply agreement with H2 Green Steel. The green steel will be delivered from H2 Green Steel’s flagship plant in northern Sweden and will amount to 25% of SPM’s annual volumes.

Steel Processing (Midlands) Ltd. is a privately owned steel and processing business with customers primarily in the automotive and construction industries based in the UK. The contract between SPM and H2 Green Steel is a five-year agreement valued at about €125 million ($137m), Kallanish learns from the Swedish start-up.

“Green steel is the biggest change this industry has seen in a century and the speed of change is faster than many expect,” says Nick Liggins, commercial director at SPM. “We believe that companies who embrace this change early will have an advantage in their sector, particularly as demand for these products could outstrip supply in the next five years.”

Christian Koehl Germany