Sweden's H2 Green Steel Raises EUR190 Million
2022年8月30日 - 6:41PM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedish steel producer H2 Green Steel AB has raised
190 million euros ($189.9 million) in a series B funding round as
it presses ahead with building a green hydrogen-powered steel plant
in northern Sweden, it said Monday.
H2 Green Steel plans to produce steel by replacing coal with
green hydrogen produced with fossil-free energy, reducing carbon
dioxide emissions by up to 95% compared to traditional steelmaking.
The new plant's annual capacity is planned at 5 million tons by
2030 and the company has already pre-sold 60% of its initial
volumes.
The equity round was co-led by new investors AMF, GIC and
Schaeffler AG, alongside existing investor Altor Fund V. Swedbank
Robur Alternative Equity also participated as a new investor.
Existing investors include Spotify Technology S.A. founder
Daniel Ek, main Kinnevik AB owner Cristina Stenbeck, and Vargas
Holding, the co-founder of Swedish battery maker Northvolt AB.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
August 30, 2022 05:26 ET (09:26 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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