Tech Company Financing Transactions
H2 Green Steel Funding Round
Altor, GIC and Hy24 participated in a $1.6 billion capital raise for H2 Green Steel. The round closed on 9/7/2023.
Transaction Overview
Company Name
Announced On
9/7/2023
Transaction Type
Venture Equity
Amount
$1,607,000,000
Round
Undisclosed
Investors
Altor (Lead Investor)
GIC (Lead Investor)
Hy24 (Lead Investor)
Just Climate (Lead Investor)
private investors (Cristina Stenbeck)
Proceeds Purpose
The company intends to use the funds to finance the construction and development of its flagship large-scale green steel plant in Boden, Sweden.
Company Information
Company Status
Private & Independent
Industry
Manufacturing
Mailing Address
Riddargatan 23 A 1 tr.
Stockholm, 114 57
SE
Stockholm, 114 57
SE
Phone
Undisclosed
Website
Email Address
Overview
H2 Green Steel (H2GS AB) was founded in 2020, with the ambition to accelerate the decarbonization of industry using Green Hydrogen. Steel is the company's first industry vertical due to its technological and commercial maturity when it comes to CO2 reduction possibilities. H2 Green Steel accelerates decarbonization of the European steel industry, one of the largest carbon dioxide emitters. The founder and largest shareholder is Vargas, which is also co-founder and one of the larger shareholders in Northvolt.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Henrik Henriksson
Chief Financial Officer
Otto Otto Gernandt
Chief Technical Officer
Maria Gulda
Browse more venture capital transactions:
Prev: 9/7/2023: Numem venture capital transaction
Next: 9/7/2023: Streamforge venture capital transaction
Share this article
News on VC Transactions
We do our best to report on all VC transactions involving tech companies. VC investment data records on this site are sourced from news reports and company announcements. The data is sourced from VentureDeal.com, an affiliated venture.
Additional Resources for Entrepreneurs