Linde Signs Agreement to Supply Industrial Gases to World’s First Large-Scale Green Steel Plant

Woking, UK, 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 $150 million to build, own and operate an on-site air separation unit (ASU) in Boden, northern Sweden. Linde will supply oxygen, nitrogen and argon to H2 Green Steel’s integrated plant, which will use the latest technology to reduce carbon emissions by up to 95% compared to traditional steelmaking.

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 $33 billion. We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain, decarbonize and protect our planet.

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