Can Europe decarbonise its heavy industry?

Swedish steel is considered the world’s toughest. It may soon become its greenest. In Boden, a town near the Arctic Circle, a startup called h2 Green Steel (h2gs) is erecting a €4bn ($4bn) new mill, Europe’s first in nearly half a century. It will be powered not by the usual coal or natural gas but by green hydrogen, produced on site by the region’s abundant wind and hydropower. When fully built in a few years, it will employ up to 1,800 people and churn out 5m tonnes of steel annually.

The project matters far beyond sparsely populated northern Sweden. The consequences could be momentous for the

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