Blastr Green Steel Completes Partner Financing Round for Ultra-Low CO2 Steel Value Chain
- Editor
- Feb 3
- 2 min read
What's Happening: Blastr Green Steel has successfully completed a second strategic partner financing round to advance the development of a European integrated ultra-low CO2 steel value chain, with its flagship steel plant in Finland. The round included three founding investors and three new Finland-based investors, all focused on sustainable growth.
The Key Moves:
New investors include Aurora Infrastructure, Onvest Oy, and Security Trading Oy, joining existing investors Cargill, Tesi, and Vanir Green Industries.
Proceeds will be used to progress Blastr's steel plant in Inkoo, Finland, and further develop a pellet plant producing 6 million metric tonnes of DR pellet feedstock annually.
Blastr aims to create a low-carbon mine-to-gate steel value chain with 90% lower CO2 emissions than conventional steelmaking.
By The Numbers :
Blastr's pellet plant will produce 6 million metric tonnes of DR pellet feedstock annually.
The company aims to reduce CO2 emissions by 90% compared to conventional steelmaking.
Blastr submitted its Environmental Impact Assessment report for the Inkoo plant in late 2024.
Key Quotes:
"Blastr warmly welcomes the new partners who all share our vision for a more sustainable steel industry, and the strong continued commitment from our founding investors," says Mark Bula, CEO of Blastr Green Steel.
"Blastr's green steel project is a significant industrial investment for Finland, exactly what the country needs to accelerate its transition to a sustainable future," added Robin Lindahl, CEO of Aurora Infrastructure.
"As a family company, we want to be involved in the arrival of green steel in Finland. We want to support this great green transition project," said Maria Toivanen, CEO of Onvest Oy.
The Bottom Line: Blastr Green Steel's successful financing round demonstrates strong investor confidence in its sustainable steel production model. The company is poised to make significant strides in reducing the carbon footprint of steel manufacturing, with its flagship plant in Finland serving as a cornerstone for this green transition in the industry.
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