Norwegian decarbonized steel developer Blastr Green Steel has announced that it has completed a second strategic partner financing round, advancing the development of a European integrated ultra-low carbon steel value chain with its steel plant to be built in Inkoo, Finland. The plant will have an annual production capacity of 2.5 million mt.
The partner financing round included three of Blastr’s founding investors, Cargill, Tesi and Vanir Green Industries, and three new investors, Aurora Infrastructure, Onvest Oy and Security Trading Oy. The proceeds of the closing will be used to progress Blastr’s value chain with the steel plant in Inkoo, and for further development of Blastr’s pellet plant which has an annual production capacity of six million mt of DR pellets.