HYBRIT: A Hubristic Hydrogen-Based Steel Project

This study critically examines HYBRIT (Hydrogen Breakthrough Ironmaking Technology), a Swedish flagship project—led by the government-owned iron ore company LKAB—to produce fossil-free sponge iron using hydrogen from fossil-free electricity. Positioned as a cornerstone of the EU Green Deal and Sweden’s green industrial transition, HYBRIT promised CO₂ reductions significantly exceeding Sweden’s current total emissions, but entailed unprecedented technological, economic, and infrastructural challenges. The analysis situates HYBRIT within the broader trend of “moonshot” industrial policies, emphasizing their susceptibility to political enthusiasm, rent-seeking, and disregard for opportunity costs.