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Planned Fossil-Fuel-Free Mill Sparks Investor Interest
05/24/2021 - A startup steelmaker has completed an initial US$105 million funding round for a project that aims to build a fossil-fuel-free mill in Sweden.
In a statement, H2 Green Steel said its Series A investors represent a broad spectrum of companies and individuals, including strategic off-takers, technical partners and long-term investors focusing on green impact, sustainability and Industry 4.0.
Among them are BILSTEIN GROUP, Marcegaglia, Mercedes-Benz AG, Scania and SMS group.
“Investors all over Europe understand that the climate crisis is the biggest challenge of our time and that a transformation of the industry is necessary. Our closing of the Series A is an important milestone that gives us continued momentum for the journey ahead,” said H2 Green Steel chief executive Henrik Henriksson.
“We’ve seen a tremendous interest, both from the industry, future customers and long-term investors, in our mission to bring down CO2-emissions to zero in the steel industry,” he added.
