Swedish green steel plant raises further finance

H2 Green Steel has raised a further €70mn in new equity investments, bringing its total to €260mn

Green steel firm H2 Green Steel (H2GS) has raised a further €70mn ($68mn) in new equity investments, bringing its total to €260mn for the latest round of funding. In addition to investments already secured by technology firm Hitachi Energy and steelmaker Kobe Steel, new shareholders include Swedish investment company Kinnevik and an undisclosed institutional investment fund. “This private placement round is a true sign of strength for our business—sustainability and profitability go hand in hand,” says Henrik Henriksson, CEO of H2GS. The new finance will be used primarily to develop the company’s large-scale green steel plant in northern Sweden, which will use direct reduced iron-electric ar