Green steel is a new type of steel that drastically reduces its carbon footprint by moving away from traditional blast furnaces. Instead, the process utilizes green hydrogen or renewable electricity to produce steel, with water vapor as the primary byproduct instead of CO₂.

This technological shift is a cornerstone of the global decarbonization strategy and provides a crucial competitive advantage for manufacturers who need to meet strict ESG standards and long-term sustainability goals.

In Japan, home of the o2Oh, a project to reduce carbon dioxide emissions using hydrogen began in 2008, pioneering technological development on a global scale.

According to a forecast by the International Energy Agency (IEA), the market for green steel is expected to reach approximately 500 million tons by 2050. The IEA also projects that by 2070, most of the steel produced globally will be green steel.