Norwegian decarbonized steel developer Blastr Green Steel has announced that it has executed a financing round with strategic partners such as global steel industry leader Cargill Metals, Germany-based steel trader INTERFER Group, Finnish investment company Tesi, and Blastr’s founder Vanir Green Industries, advancing the development of a European integrated ultra-low carbon steel value chain with its flagship steel plant in Finland.
The proceeds will be used to progress development planning for the steel plant in Inkoo, Finland, and a facility in northern Europe designed for producing an annual six million mt of high-quality low-carbon DR pellets feedstock. The funding will also support an organizational ramp-up aligned with commercial and supply chain activities.
“This successful early financing round represents a significant step towards realising Blastr’s multi-billion euro investment program for production of pellets, sponge iron and steel at a global scale,” Mark Bula, CEO of Blastr Green Steel, said.
