Swedish clean steel start up H2 Green Steel has secured EUR 260 million in series B equity funding. The final close of the private placement adds EUR 70 million in new investments from investors such as Hitachi Energy, Kobe Steel and Kinnevik. The series B equity proceeds will primarily be used to develop the company’s large scale green steel plant in northern Sweden, where H2 Green Steel will produce steel with up to 95% lower emissions than traditional steelmaking. The private placement round that was co-led by AMF, GIC and Schaeffler, alongside existing investor Altor, reaches EUR 260 million in its final close. In addition to already communicated investments by Hitachi Energy and Kobe Steel, the close of the round adds new shareholders Swedish investment company Kinnevik, and a climate-focused institutional investment fund. In addition to financing, H2 Green Steel has reached several milestones at high speed, including a permissibility permit for its operations in Boden in July followed by steady progress in the construction of its steel plant. The company has pre-sold about 60 percent of its initial volumes to a range of European customers in a broad range of sectors.
Swedish clean steel start up H2 Green Steel has secured EUR 260 million in series B equity funding. The final close of the private placement adds EUR 70 million in new investments from investors such as Hitachi Energy, Kobe Steel and Kinnevik. The series B equity proceeds will primarily be used to develop the company’s large scale green steel plant in northern Sweden, where H2 Green Steel will produce steel with up to 95% lower emissions than traditional steelmaking. The private placement round that was co-led by AMF, GIC and Schaeffler, alongside existing investor Altor, reaches EUR 260 million in its final close. In addition to already communicated investments by Hitachi Energy and Kobe Steel, the close of the round adds new shareholders Swedish investment company Kinnevik, and a climate-focused institutional investment fund. In addition to financing, H2 Green Steel has reached several milestones at high speed, including a permissibility permit for its operations in Boden in July followed by steady progress in the construction of its steel plant. The company has pre-sold about 60 percent of its initial volumes to a range of European customers in a broad range of sectors.
