Google Backs Stegra Green Steel Through EAC Deal

Google has entered into an agreement to purchase environmental attribute certificates (EACs) tied to up to 91,000 tonnes of Stegra's near-zero emission steel production in Boden, Sweden.

The EACs will help Google address its steel-related emissions from operations such as data center construction. The book-and-claim model allows one buyer to purchase the environmental attributes while another buys the physical material.

This deal marks a significant step for Stegra, providing additional early-stage cash flow during its production ramp-up and potentially creating a financing tool for hard-to-abate industrial technologies.