GreenIron secures a further SEK 100 million in financing

July 31, 2024

GreenIron is now preparing to deliver fossil-free iron in Sandviken, Sweden, supported SEK 100 million of additional financing provided by existing shareholders.

In April, GreenIron obtained the environmental permit for its first full-scale production unit in Sandviken, Sweden. Construction of the facility is now ongoing, and GreenIron is approaching commercial production of fossil-free iron by the end of 2024.

To secure this further expansion, GreenIron has raised SEK 100 millionof additional capital from existing shareholders. This also paves the way for a larger financing round within the next six to nine months.
Edward Murray, CEO:

“We are grateful for the confidence that our shareholders have shown in our technology and our ability to deliver fossil-free material. This enables us to continue our journey towards our goal of 300 furnaces by 2030, in the pursuit of a sustainable future.”

Our current focus lies in establishing production in Sandviken and delivering fossil-free iron as soon as possible. GreenIron thereby pave the way for the mining and metal industries to adjust their production with the aim of reducing CO2-emissions.

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