H2 Green Steel Raises Approx. €1.5 Billion in Equity Funding

▤ Summary

The round was led by Altor, GIC, Hy24 and Just Climate, whit participation from Andra AP, AMF, Cristina Stenbeck, Hitachi Energy, IMAS Foundation, Kinnevik, Schaeffler, Vargas and Wallenberg Investments holding company FAM. The company intends to use the funds to finance the construction and development of its flagship large-scale green steel plant in Boden, Sweden. This is made possible by replacing coal in the production process with hydrogen, produced on-site with Europe’s largest electrolyzer, using electricity from renewable sources. The company is led by Henrik Henriksson as a CEO and Otto Gernandt as a CFO. Since launch in 2021, H2 Green Steel has raised more than €1.8 Billion of equity in three financing rounds.

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