AMF, GIC and Schaeffler led a €190m Series B funding round in H2 Green Steel.

AMF, an insurance company, GIC, a private equity firm, and Schaeffler, a provider of components and system solutions for both vehicles with drive trains, led a €190m Series B funding round in H2 Green Steel, a producer of green steel, which involves the use of less carbon dioxide emissions compared to traditional steelmaking, with participation from Altor, Swedbank Robur, Vargas, Kingspan, FAM, Marcegaglia, IMAS Foundation, Cristina Stenbeck and Daniel Ek. “This financing milestone is a real statement of confidence in H2 Green Steel. Despite the uncertainty in global markets, a venture like ours, with both a strong business case and a strong sustainable purpose, is clearly attractive to investors. This financing round has allowed us to combine leading industrial companies and global financial institutions, with investors with a strong Swedish participation, creating the investor-base that will set us up for success,” Henrik Henriksson, H2 Green Steel CEO.