TLDR:
French Demeter joins H2 Green Steel investor group to finance the construction of a green steel plant in Sweden. The total fundraising for H2 Green Steel is approximately €6.5 billion, with Demeter investing through the Climate Infrastructure Fund. The project aims to produce 5 million tons of green steel by 2030.
Article Summary
French investment company Demeter has joined the investor group for H2 Green Steel, a Swedish startup focused on producing green steel. The financing from Demeter, through the Climate Infrastructure Fund, will support the construction of a large-scale green steel plant in Sweden, which includes Europe’s largest hydrogen plant. This investment highlights Demeter’s commitment to decarbonizing the industry and expanding its presence in Europe.
In January 2024, H2 Green Steel announced significant fundraising totaling approximately €6.5 billion, with investments from various sources including Demeter. The Swedish startup is considering multiple new projects, with one in Boden, Sweden, expected to produce 5 million tons of green steel by 2030. This project also aims to produce 100 thousand tons of green hydrogen per year using renewable energy sources.
H2 Green Steel’s innovative approach to green steel production has attracted investors and industry partners, positioning the startup as a key player in the transition towards sustainable steel manufacturing. With ongoing projects in various countries, including Canada, the USA, Brazil, and Portugal, H2 Green Steel is driving innovation in the steel industry towards a more environmentally friendly future.
