SSAB has been chosen for award negotiations by the US Department of Energy to secure up to US$500 million in funding. The funds aim to support the potential construction of a HYBRIT[®] manufacturing facility intended for producing fossil-free iron using green hydrogen instead of conventional fuels.

Additionally, the project will assess opportunities to enhance capacity and capabilities at SSAB's steel manufacturing operations in Montpelier, Iowa, with a focus on increasing renewable energy usage.