Generation Investment Management Just Climate has announced three investments in ABB E-mobility, H2 Green Steel and Meva Energy. All three companies reflect Just Climate’s approach of investing in scalable solutions with transformational potential that can help to deliver sector-wide decarbonization in hard-to-abate industries. H2 Green Steel is an industrial start-up based in Sweden which aims to accelerate the decarbonization of the steel industry – one of the hardest-to-abate industries, responsible for more than 7% of emissions, according to the IEA. By replacing coal traditionally used in steelmaking with green hydrogen powered by renewable electricity, the company aims to reduce emissions of steel by as much as 95%. Just Climate’s investment forms part of H2 Green Steel’s Series B fundraising announced in October 2022, the proceeds of which will be used to develop the company’s first of a kind, large scale, green steel plant in northern Sweden, the Boden Project. H2 Green Steel CEO Mr Henrik Henriksson said “Those who have invested in our company are all at the forefront of enabling the change required to meet the targets of the Paris Agreement. Just Climate is no exception. They believe in our business case as well as our purpose to accelerate decarbonization of heavy polluting industries. Being among the first green impact investments of Just Climate shows the impact our company will have on some of the dirtiest industries today.”ABB E-mobility is a Swiss-based global leader in electric vehicle charging solutions. Around 24% of all emissions come from the transportation sector, which has traditionally been hard to decarbonize. Just Climate’s investment in ABB E-mobility will help decarbonize road transport by accelerating the deployment of its solutions ranging from smart chargers for the home to high-power chargers for highway stations of the future, solutions for electrification of fleets and opportunity charging for electric buses and trucks. Just Climate believes backing this business will have a significant impact on emissions abatement in a hard-to-decarbonize sector.Meva Energy, also based in Sweden, provides an innovative gasification technology to generate renewable energy for manufacturing sectors. Just Climate will support Meva Energy as it scales the technology and rolls it out more broadly to provide a clean, practical and cost-efficient solution to a widely spread network of mid-scale industries that currently rely on fossil fuels to power their industrial processes and operations. Through Meva Energy’s partnerships with two industrial players of scale, IKEA and SOFIDEL, the business has the potential to play a catalytic role in a sector-wide transition.Just Climate was created by Generation Investment Management, a pioneer in sustainable investing, with the aim of identifying and investing in those businesses that can generate the highest positive climate impact while generating attractive risk-adjusted returns.