H2 Green Steel Progress
€1.5 billion in equity - the biggest private placement in Europe this year. This is a monumental step towards realizing our plans in Boden, which is to build the world’s first large-scale production of green steel, co-located with Europe’s largest hydrogen plant. In total we have raised over €1.8 billion so far.
This round is co-led by a group of four investors: new investor Hy24, as well as Altor, GIC and Just Climate that have supported us with equity in earlier rounds. Other investors that continue to support us in this round include AMF, Cristina Stenbeck, Hitachi Energy, IMAS Foundation, Kinnevik, Schaeffler, Vargas and Wallenberg Investments holding company FAM. New to the family are Andra AP-fonden and Temasek.
With the capital injection from this round, we continue at full speed towards the construction of Europe’s first new steel mill in over half a century. It will be the first of its kind in many ways - where the most important aspect of course is that we remove up to 95% of CO2 emissions compared to traditional steel. We want to show the world that it’s possible to transform heavy industries and hope that many will follow.
