By Jeffrey T. Lewis

SÃO PAULO--Vale and H2 Green Steel agreed to jointly study the possible development of green industrial hubs in Brazil and North America to enable sustainable steel production.

The Brazilian iron-ore producer said Wednesday that Swedish startup H2 intends to produce low-carbon steel value-chain products, such as green hydrogen made using renewable electricity and hot-briquetted iron made with Vale's iron-ore briquettes as input material.

Vale is establishing a partnership in Brazil with a green iron-and-steel producer to foment global decarbonization and stimulate green hydrogen production in the country. The agreement is Vale's first step into the green hydrogen market, Chief Executive Officer Eduardo Bartolomeo said in a statement.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

(END) Dow Jones Newswires

September 06, 2023 09:01 ET (13:01 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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