According to a press release, the Memorandum of Understanding outlines their collaboration in three main elements: “an equity investment by Hitachi Energy in H2 Green Steel; products and services from Hitachi Energy that are needed to construct and improve the electrical infrastructure to power steel production and gigascale electrolyzer plants; and green steel offtake from H2 Green Steel for the manufacturing of Hitachi Energy’s products, once production starts.”
 
“The collaboration we have entered into with Hitachi Energy is further reinforced by them taking an equity investment in H2 Green Steel. The companies we choose to work with need to share our values, (to) make a real commitment to live up to the Paris Agreement and to work tightly together to leverage each other’s strengths. In Hitachi Energy we have that, as well as their long history, broad experience and innovative offerings,” said Henrik Henriksson, chief executive of H2 Green Steel.
 
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