Ovako, a Swedish specialty steel producer owned by Nippon Steel, achieved carbon neutrality in 2022 through fossil-free hydrogen deployment, renewable electricity, & 97% recycled steel content. The company targets 80% emissions reduction by 2030 & 90% by 2040. In April 2020, Ovako conducted the world's first full-scale trial using hydrogen for steel heating. In September 2023, the company inaugurated Sweden's largest electrolyzer producing 3,500 cubic meters of fossil-free hydrogen hourly. Ovako's cradle-to-gate emissions stand 80% below global averages at approximately 2 metric tons CO₂ per metric ton product.