SSAB

Steel

HQ Location Stockholm, Sweden
Market Capitalization 76.81 bil SEK (Jan 26)
Date Joined September 2019
HYBRIT, Luleå, Sweden. Photo: SSAB

Swedish company SSAB is a global leader in special and premium steels and a frontrunner in the development of fossil-free steel.

A highly specialised global steel company, SSAB is a world-leading producer of steel for many different applications including advanced high-strength steels, quenched and tempered steels, strip, plate and tubular products, as well as construction solutions.  The company has around 16,000 employees in more than 50 countries. It has production plants in Sweden, Finland and the US and an annual steel production capacity of approximately 8.8 million tonnes.

SSAB was one of the founding members of LeadIT and sustainability is a key driving force for the company. In partnership with LKAB and Vattenfall, it established the HYBRIT (Hydrogen Breakthrough Ironmaking Technology) initiative — a joint venture which has developed a new steelmaking process that replaces coke and coal with fossil-free hydrogen and electricity, dramatically cutting CO₂ emissions.  The HYBRIT technology has the potential to reduce Sweden’s total carbon dioxide emissions by at least ten percent.  Following successful trials of hydrogen direct reduction of iron ore in a pilot plant, SSAB began construction of a full scale fossil free steelworks in September 2025.  It aims to produce 2.5 million tonnes of fossil-free steel annually, with full production capacity expected by 2029.

Member's thoughts

LeadIT helps spread the word about what we do here and show the rest of the world that there is a way to decarbonize the steel industry in a way that people thought was not possible in the past.

Martin Pei

Martin Pei

Senior Advisor at SSAB and Chairman of Hybrit Development AB