Base Metals
Sweden’s H2 Green Steel raises additional funds for green steel plant
The fully integrated, digitalised and circular plant is planned to start production as early as 2025.
The post Sweden’s H2 Green Steel raises additional…
H2 Green Steel has raked in another €70m in its Series B equity round to fund the construction of what it claims to be the world’s first large scale green steel plant in northern Sweden.
The latest raise, which bring the total capital secured through the round to €260m, was co-led by GIC, AMF, and Schaeffler, and existing investor Altor.
Other investors include Hitachi Energy, Kobe Steel, Kinnevik, and a climate-focused institutional investment fund.
H2 Green Steel will utilise the series B infusion to build the fully integrated, digitalised and circular steel manufacturing plant, which is planned to be commissioned as early as 2025.
The facility is expected to reduce 95% of CO₂ emissions compared to traditional steelmaking.
Kinnevik CEO Georgi Ganev said: “Kinnevik has always been a backer of challengers, investing in disruptive companies that can significantly upend their sectors.
“H2 Green Steel, with its ambition to decarbonise large industries starting with steel, is a great example of a company with a strong commercial plan and the ability to move the needle in reaching global net zero, and we are excited to be part of their journey.”
The firm raised €86m in its series A equity funding round last year and €190m in the first close of its series B round earlier this year.
H2 Green Steel CEO Henrik Henriksson said: “We are proud to partner with leading global institutions, investors, and industrial companies. Our investors are leaders in their respective fields and at the forefront of enabling the change required to meet our climate targets.
“This private placement round is a true sign of strength for our business – sustainability and profitability go hand in hand.”
The post Sweden’s H2 Green Steel raises additional funds for green steel plant appeared first on Mining Technology.
White House Prepares For “Serious Scrutiny” Of Nippon-US Steel Deal
White House Prepares For "Serious Scrutiny" Of Nippon-US Steel Deal
National Economic Adviser Lael Brainard published a statement Thursday…
How to Apply for FAFSA
Students and families will see a redesigned FAFSA this year. Here’s how to fill it out.
Dolly Varden consolidates Big Bulk copper-gold porphyry by acquiring southern-portion claims – Richard Mills
2023.12.22
Dolly Varden Silver’s (TSXV:DV, OTCQX:DOLLF) stock price shot up 16 cents for a gain of 20% Thursday, after announcing a consolidation of…