The HYBRIT project in Sweden, a collaboration between SSAB, LKAB, and Vattenfall, has successfully completed a hydrogen storage pilot aimed at advancing fossil-free steelmaking. The results, submitted to the Swedish Energy Agency, confirm the technical viability and cost-effectiveness of large-scale hydrogen storage, potentially reducing production costs by up to 40%. This initiative, launched in 2016, focuses on developing a fossil-free, ore-based steelmaking process using hydrogen to significantly cut CO2 emissions in the steel industry. The recent phase of the project concentrated on hydrogen production and storage, with the construction of a 100m³ steel-lined rock cavern storage facility in Luleå, Sweden. Accelerated testing demonstrated the safety, functionality, and cost-effectiveness of the storage solution for industrial applications. Hydrogen storage not only enables decarbonisation of industries but also offers flexibility in production aligned with electricity price variations. Surplus hydrogen can be stored during low-price periods and utilized during peak demand, potentially reducing operating costs by 25% to 40%. The positive outcome of the pilot, co-financed by the Swedish Energy Agency, has paved the way for further testing until 2026 to optimize the facility for commercial deployment, marking a significant step towards sustainable steel production.