27/06/2024 (Agence Europe) – On Wednesday 26 June, the European Commission announced that it had authorised a Swedish measure worth €265 million to help H2GS AB build a “green” steelworks in Boden, Sweden. Part of the aid will be made available through the ‘Recovery and Resilience Facility’ (the main instrument of the European Recovery Plan, Next Generation EU) and will be delivered in the form of a direct grant. The new facilities, which will use renewable energy for the entire production process, are due to come on stream in 2026 and produce 2.4 million tonnes of steel a year. The project represents a total investment of around €6 billion, largely financed by private investment. The project has also been selected for support from the European Innovation Fund and is backed by funding from the European Investment Bank. (EV)