Mercedes signs binding offtake agreement with H2 Green Steel as the companies look at North American opportunities

German automotive giant Mercedes-Benz has signed a binding agreement with H2 Green Steel for the delivery of 50,000 tonnes of hydrogen-produced steel to its European production facility, with eyes on a North American expansion.

As an early investor in H2 Green Steel, Mercedes initially confirmed its demand for steel through an offtake agreement. Having now developed into a binding agreement, the green steel is set to be used to help reduce the company’s environmental impact from car manufacturing.

“With the supply deal of around 50,000 tonnes almost CO2-free steel from H2 Green Steel for our manufacturing plants in Europe, Mercedes-Benz and H2 Green Steel are accelerating the creation of a decarbonised, regional and resilient steel supply chain,” said Markus Schäfer, Member of the Board of Management and Chief Technology Officer at Mercedes-Benz Group AG.

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