In the town of Boden, Sweden, Stegra is working on a groundbreaking project to revolutionize steel production. The company's new steel mill is set to drastically reduce CO2 emissions by 95% compared to traditional methods, thanks to the innovative use of hydrogen in the production process. By circulating heated hydrogen gas to remove oxygen from iron ore, Stegra will create water as a byproduct instead of releasing significant CO2. The company's business model relies on access to cheap renewable energy, such as hydro power in northern Sweden, which gives them a competitive edge in electricity costs. Despite facing challenges and skepticism from experts like Magnus Henrekson, Stegra is confident in its approach and aims to start production in late 2026, with a target capacity of 5 million tonnes by 2030. The company's CEO, Henrik Henriksson, sees Stegra's steel as a different product from batteries, making it an appealing and straightforward choice for companies looking to embrace green steel. Despite setbacks in the industry and comparisons to the now-bankrupt Northvolt, Stegra remains optimistic about its position and the demand for environmentally friendly steel.