Swedish Steelmaker SSAB Exits US Green Steel Funding Talks
- Firm had won award under Biden administration for US plant
- Exit from talks comes as Trump looks to undo green policies
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Sweden’s top steelmaker SSAB AB has pulled out of funding talks with Washington to build a green steel plant in the US, as President-elect Donald Trump looks to dismantle policies meant to hasten decarbonization.
In March, the Biden administration awarded the company as much as $500 million for a facility to make the alloy using 100% hydrogen in Perry County, Mississippi. The project would have been based on the so-called Hybrit technology that SSAB is currently using in Sweden.