Swedish startup GreenIron nominated for Nordic Innovation Award

The Nordic Innovation Award, an initiative by the Nordic intellectual property offices, celebrates innovations that contribute to sustainable development.

The award, designed to encourage small and medium-sized enterprises in the Nordic region to leverage intellectual property rights strategically, is being presented for the first time, with plans to make it an annual event.

A startup shaping sustainable manufacturing

This year, GreenIron, a startup based in Stockholm, is the Swedish nominee. The company has developed a hydrogen-based reduction technology that produces fossil-free metals, including iron, copper, nickel, and manganese.

This approach aims to reduce the metal industry’s carbon footprint, which has traditionally been a significant emitter of CO2.

The conventional fossil-based production process releases two tons of CO2 for every ton of steel produced. In contrast, GreenIron’s technology is entirely CO2-free, with water being the only byproduct.

A single GreenIron furnace has the potential to cut emissions by up to 56,000 tons of CO2 annually, representing a transformative step toward decarbonizing the metal industry.

Jury’s motivation for GreenIron’s nomination

The Swedish jury, composed of innovation and intellectual property experts, commended the technology firm’s dedication to promoting a circular and sustainable mining and metal industry.

The company’s nomination highlights its efforts to develop fossil-free metal extraction technology, which can be applied to ores, waste, and byproducts.

“We are incredibly proud to be nominated for this prestigious award. It is an important recognition of our work in developing a fossil-free technology for extracting metals, not only from ore, but also from residual products and waste,” stated Edward Murray, CEO and co-founder of GreenIron.

The Nordic Innovation Award’s recognition underscores the role of Swedish startups in driving technological progress that supports growth, competitiveness, and environmental sustainability.