Greensteel Australia

What Greensteel Australia does

Greensteel Australia is an Australian-owned private company founded in November 2021 and headquartered at Tower Three, Barangaroo Avenue, Sydney. The firm is building Australia's first zero-emission steel mill at Mayfield North, Newcastle, on the 70,000 square metre former BHP Newcastle Steelworks site at 51 Industrial Drive. Stage 1 represents a $500 million investment with operations targeted for January 2028, producing up to 600,000 tonnes of finished steel per year, scaling toward a 2 million tonne per year total project capacity across phases, with total investment of $2.3 billion across all phases.

The company's integrated technology stack runs on three pillars: (1) green hydrogen produced from a 200MW electrolyser powered by solar, wind and water via renewable electrolysis, (2) green iron produced through hydrogen-based direct reduction of Australian magnetite ore into hot briquetted iron, and (3) green steel produced through electric induction furnace technology that eliminates gas from the process and yields up to 95% CO2 reduction versus traditional coal-based methods. A $1.6 billion order with Danieli Group covers the DRI plant, two electric arc furnaces, a structural steel rolling mill with high-speed rail capability, and a rebar rolling mill, including what is described as the world's first 100% hydrogen-powered rolling mill. Renewable power is secured through a partnership with ZEBRE Pty Ltd, backed by Taiwan-listed HD Renewable Energy.

Greensteel's business model is B2B hardware sales of finished steel products, primarily rebar, with planned expansion into wire rod, coil, and structural sections. The go-to-market is enterprise field sales directed at Australia's housing and construction sector, transport infrastructure (including high-speed rail sections not currently manufactured domestically), the energy sector, and federal and state government procurement. Distribution is supported by sister company Reosteel, an established downstream supplier to the Australian construction industry. Pricing is not publicly disclosed. The firm has secured policy alignment with the federal "Future Made in Australia" agenda and the 1.2 million new homes national target, and management is led by Executive Chairman and CEO Romany Ibrahim, President and Executive Director Mena Ibrahim, Chairman Ross Garnaut AC, and Head of Government Relations Patrick Buchan.

Name

Greensteel Australia

Legal name

Greensteel Australia

Website

https://h2greensteel.com.au

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

101–250 employees

Short description

Greensteel Australia is building Australia's first zero-emission steel mill at Mayfield North, Newcastle, using green hydrogen direct reduction and electric induction furnaces. The Stage 1 facility will produce 600,000 tonnes annually of rebar, wire rod, and coil for construction, transport, and energy sectors.

Ownership category

akta.pro rank

Product category

Green Steel Manufacturing

NAICS

Iron and Steel Mills and Ferroalloy Manufacturing (33111)

SIC

Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310)

akta.pro primary industry

Electric Arc Furnace (EAF) Steelmaking (Incl. DRI/HBI-Based) (IMAKABAB)

akta.pro secondary industry

Hot Rolling & Primary Mills (Plate, Hot-Rolled Coil/Sheet, Strip) (IMAKABAE)

Keywords

• Green steel production
• Clean hydrogen manufacturing
• Zero-emission steelmaking
• Direct reduction iron
• Low-carbon construction steel

Headquarters

HQ city

Barongarook

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Infrastructure, Technology or R&D, Operations, Personnel, Marketing or Sales

Revenue model

1. Green Steel Sales: Production and sale of finished steel products including reinforcing bar (rebar), wire rod, and coil to the Australian construction, housing, transport and energy sectors. Stage 1 produces up to 600,000 tonnes of finished steel per year.
2. Green Iron (HBI) Sales: Production of hot briquetted iron (HBI) from Australian magnetite iron ore using green hydrogen, creating near-zero carbon footprint steel production capability for domestic and global markets.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Greensteel Australia is building and operating Australia's first zero-emission steel mill at Mayfield North, Newcastle, NSW. It produces green hydrogen and green iron (hot briquetted iron) using direct reduction technology, then converts these into green steel products — rebar, wire rod, and coil — for Australian construction, infrastructure, and energy customers. The company targets near-zero Scope 1 emissions by replacing coal-based blast furnace steelmaking with renewable-powered green hydrogen, direct reduction, and electric induction furnaces.

Product overview

Greensteel Australia operates as an Australian-owned steel manufacturer building Australia’s first ultra-low-emission steel production facility. The company’s integrated process spans three core stages: (1) Green Hydrogen production via renewable-powered electrolysis, (2) Green Iron production through hydrogen-based direct reduction of Australian magnetite ore into Hot Briquetted Iron (HBI), and (3) Green Steel production using electric induction furnaces. The Stage 1 Mayfield mill produces up to 600,000 tonnes annually of finished steel products including rebar, with wire rod and coil planned for future stages. A $1.6B equipment order from Danieli Group includes a DRI plant, two electric arc furnaces, structural steel rolling mill with high-speed rail capability, and a rebar rolling mill. The sister company Reosteel distributes finished products to the construction industry. The facility achieves up to 95% CO₂ reduction compared to traditional steelmaking.

Differentiator

Problem solved

Functional benefit

Products and services

• Green Steel — Rebar Low-embodied-carbon reinforcing bar (rebar) produced via green hydrogen–based direct reduction and electric induction furnaces, sold to Australian construction and infrastructure customers as a near-zero-emission alternative to conventional blast-furnace rebar.
• Green Steel — Wire Rod Low-embodied-carbon wire rod produced via green hydrogen–based direct reduction and electric induction furnaces, for industrial offtakers in Australia and select export markets.
• Green Steel — Coil Low-embodied-carbon steel coil produced via green hydrogen–based direct reduction and electric induction furnaces, targeting Australian and regional industrial buyers.
• Green Iron (Hot Briquetted Iron / HBI) Hot Briquetted Iron produced using green hydrogen direct-reduction technology, intended as a storable, transportable, low-carbon ironmaking feedstock for downstream steel, metals, and heavy-industry customers.
• Green Hydrogen Renewable-power electrolytic green hydrogen produced on-site at the Newcastle mill, used internally as the reducing agent for DRI/HBI and offered to industrial buyers as a low-carbon industrial gas and chemical feedstock.

Quantifiable outcome

• 95% reduction in CO2 emissions compared to traditional coal-based steelmaking
• +5 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Four partnerships are on record, tiered core and minor.

• ZEBRE Pty Ltd (backed by HD Renewable Energy)coreStrategic or Co-development Partner · 19 May 2026ZEBRE, backed by Taiwan-listed HD Renewable Energy (TWSE: 6873), partnered for renewable electricity and battery storage solutions. ZEBRE brings 437MW renewable energy portfolio in South Australia including Templers Battery Project and Solar River Hybrid Solar and Storage Project. Partnership to explore 400MW large-scale battery system integrated with behind-the-meter storage.
• Danieli GroupcoreTechnology or Integration · 29 May 2025Danieli Group is the world's leading provider of advanced, high-technology steelmaking infrastructure. Greensteel placed a $1.6B order for DRI plant, two electric arc furnaces, structural steel rolling mill with high-speed rail capability, and rebar rolling mill. Danieli to supply world-leading all-electric induction furnace technology. Equipment delivery expected by late 2026 or early 2027.
• Danieli GroupcoreStrategic or Co-development Partner · 14 October 2024Partnership to launch world's first 100% hydrogen-powered rolling mill in Australia. Danieli providing quality materials, knowledge-sharing, and specialized technology. Contract signed in Buttrio, Italy. Targeting commencement of operations by late 2026.
• ReosteelminorStrategic or Co-development PartnerGreensteel's sister company based in Sydney is a well-established downstream supplier of finished steel products to the construction industry.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SSAB: Swedish steelmaker pioneering the HYBRIT hydrogen-based DRI steelmaking initiative with LKAB and Vattenfall. Comparable as a fellow hydrogen-DRI steel producer targeting premium low-carbon rebar and structural steel for construction and heavy industry.
• Salzgitter AG: German steelmaker running the SALCOS (Salzgitter Low CO2 Steelmaking) program — a hydrogen DRI + EAF transformation directly analogous to Greensteel Australia's architecture.
• BlueScope Steel: Australia's incumbent flat-steel producer (Port Kembla) and the dominant domestic competitor. Highly comparable: same Australian market, same construction/infrastructure end-markets, and now actively developing its own lower-carbon steel pathways as Whyalla's collapse concentrates industry attention.
• Stegra (formerly H2 Green Steel): Sweden-headquartered developer of large-scale hydrogen DRI green steel plants supplying European OEMs and construction. Closest direct peer: same hydrogen-DRI-EAF value chain, same target of near-zero-emission steel, and comparable scale ambitions to Greensteel Australia.
• Thyssenkrupp Steel: German integrated steelmaker developing the tkH2Steel hydrogen DRI route in Duisburg. Comparable as a legacy blast-furnace operator transitioning to hydrogen-DRI-EAF for flat and long products.

Broad incumbents

• Voestalpine: Austrian integrated steelmaker running the H2FUTURE and greentec steel programs to convert its Linz and Donawitz sites to hydrogen-based DRI. Comparable as an incumbent steelmaker undertaking hydrogen-DRI transformation.
• ArcelorMittal: World's largest steelmaker, investing in multiple hydrogen-DRI and EAF projects across Europe and North America. Comparable as a broad incumbent pursuing the same hydrogen-DRI transition at global scale.
• POSCO: South Korean steelmaker developing the HyREX hydrogen-based ironmaking technology and converting to EAF capacity. Comparable as a major integrated incumbent with hydrogen-DRI ambitions targeting construction and automotive steel.

Regional players

• Cleveland-Cliffs: US flat-rolled and HBI producer building hydrogen-ready HBI capacity and supplying EAF operators. Comparable as a regional HBI/DRI player adjacent to Greensteel's HBI product line, though focused on the North American market.
• Nucor Corporation: Largest US EAF-based steelmaker and a leader in scrap-based and low-carbon rebar production. Comparable on EAF + rebar/wire-rod end-product mix, though it does not pursue hydrogen-DRI and operates in the Americas rather than Oceania.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Greensteel Australia