Stockholm-based H2 Green Steel raises €1.5B to build worlds first large-scale green steel plant
Summary
Stockholm-based green steel producer, H2 Green Steel, announced on Thursday that it has raised €1.5B in the largest private placement in Europe this year. The private placement was co-led by new investor Hy24, together with existing investors Altor, GIC, and Just Climate. The round also includes new investors Andra AP – fonden and Temasek, as well as a group of existing investors, including AMF, Cristina Stenbeck, Hitachi Energy, IMAS Foundation, Kinnevik, Schaeffler, Vargas, and Wallenberg Investments holding company FAM. The Swedish company says it will use the funds to construct and develop the world’s first large-scale green steel plant in Boden, Sweden. H2 Green Steel says the upcoming plant will deliver steel with up to 95 percent less CO2 emissions than steel produced with traditional blast furnace technology.