HYBRIT honoured with World Economic Forum GAEA award in Davos

Fossil free iron- and steelmaking initiative HYBRIT received the World Economic Forum's ‘Moving Force in Business’ Award in Davos. This GAEA award, one of five, recognizes sustainable business solutions that have the potential to transform whole sectors, industries or markets. HYBRIT was launched in 2016 by steel company SSAB, mining company LKAB and energy company Vattenfall, who together own the project.

HYBRIT (Hydrogen Breakthrough Ironmaking Technology), aimed to develop the first value-chain for fossil free steel, produced with fossil free electricity and hydrogen. The ambitious collaboration between SSAB, LKAB and Vattenfall, with results that prove the technology works, plans to transition from its successful pilot phase towards industrial scale production in the years to come. The initiative aims to cut Sweden’s carbon dioxide emissions by at least 10 percent and serves as a global model for sustainable steel production.

The winners receive the GAEA award at the Giving to Amplify Earth Action gala.

“It’s a true honor to have the HYBRIT’s approach celebrated by the GAEA Awards. Putting sustainability at the core of our business strategy and partnering with SSAB and LKAB has been crucial for its success. Collaboration is key and I am very proud of how much we have accomplished together. We did it on time, on budget and with results better than we could have hoped for. Climate change is one of the most important issues of our time and to fight it, we need to utilize the driving force of a growing economy, profitable businesses and the innovation and funding that comes with that”, said Anna Borg, CEO and President of Vattenfall.

“The GAEA Awards entrusted prominent figures in climate, nature and sustainability with selecting the awardees,” said André Hoffmann, chair of the jury. “These five partnerships stood out for their potential to drive system-wide transformation by mobilizing multi-sector collaborators and integrating equity, inclusion and just transition principles into all their activities and objectives.”

“We are grateful to the WEF and GAEA Awards for recognizing the HYBRIT initiative as a groundbreaking partnership. Thanks to the successful results from the pilot phase, we are transforming our Nordic production system to sharply lower fossil carbon emissions and deliver more value for customers. We are proud to collaborate with LKAB and Vattenfall to lead the iron and steel industry toward a more competitive and sustainable future,” said Johnny Sjöström, President and CEO of SSAB.
 

“We are honoured to receive this recognition by the GAEA Awards and the World Economic Forum. It is an important acknowledgement of the groundbreaking collaboration and journey we have undertaken together with SSAB and Vattenfall. The results show that the HYBRIT process works and that we are well positioned for the next step of industrializing the technology and establishing a competitive value chain for the fossil-free iron and steel making of the future”, says Jan Moström, President and CEO of LKAB.

GAEA award:

• The inaugural Giving to Amplify Earth Action (GAEA) Awards recognize groundbreaking partnerships tackling global climate and nature challenges with innovative, scalable solutions.
• From over 120 initial nominations, an expert independent jury selected five transformative initiatives driving systemic change worldwide: Decarbonising Rice, Built by Nature, HYBRIT, Global Energy Alliance for People and Planet, and Youth Climate Justice Fund.
• The awardees are honoured for pioneering, adaptable, impact-driven efforts in science, innovation, business action, cross-sector partnerships and intergenerational leadership

About the Davos Annual Meeting 2025:

The World Economic Forum Annual Meeting 2025, taking place in Davos-Klosters from 20 to 24 January, convenes global leaders under the theme, Collaboration for the Intelligent Age. The meeting will foster new partnerships and insights to shape a more sustainable, inclusive future in an era of rapidly advancing technology, focusing on five key areas: reimagining growth, industries in the intelligent age, investing in people, safeguarding the planet, and rebuilding trust. Click here to learn more.

HYBRIT FACTS and milestones, click here.
 

For more information, please contact:  

Magnus Kryssare, Press secretary Vattenfall, +46 76 769 56 07, magnus.kryssare@vattenfall.com 

World Economic Forum, public.affairs@weforum.org