All told, the company has secured close to EUR6.5 billion in funding for its planned green steel plant in northern Sweden. 

“No one has scrutinized our project more thoroughly than those who back our financing. This massive commitment from our lenders, investors and the Innovation Fund is true recognition of the quality of our company. It’s also a big win for the climate as we hope the model will inspire the financing of other decarbonization initiatives in hard-to-abate industries,” said H2 Green Steel chief executive Henrik Henriksson.