Just Climate announces its investment in H2 Green Steel’s Series B equity round
Just Climate which aims to identify and invest in businesses that have the highest positive climate impact while generating attractive, risk adjusted returns announces that H2 Green Steel is among its first three investments.[1]
Just Climate’s investment forms part of H2 Green Steel’s Series B fundraising announced in October 2022, the proceeds of which will be used to develop the company’s first of a kind, large scale, green steel plant in northern Sweden.
Those who have invested in our company are all at the forefront of enabling the change required to meet the targets of the Paris Agreement. Just Climate is no exception. They believe in our business case as well as our purpose to accelerate the decarbonization of heavy-polluting industries. Being among the first green impact investments of Just Climate shows the impact our company will have on some of the dirtiest industries today.
Henrik HenrikssonCEO H2 Green Steel.
Just Climate, an investment business created by Generation Investment Management to address the net-zero challenge at scale, announced three investments in ABB E-mobility, H2 Green Steel and Meva Energy. All three companies reflect Just Climate’s approach of investing in scalable solutions with transformational potential that can help to deliver sector-wide decarbonization in hard to abate industries. Just Climate was created by Generation Investment Management, a pioneer in sustainable investing, with the aim of identifying and investing in those businesses that can generate the highest positive climate impact while generating attractive risk adjusted returns.
We established Just Climate to accelerate commercialisation of solutions for the hardest-to-abate emissions – for the benefit of people, the planet, and our clients. Some solutions will come from new businesses, others from large incumbents. Our first investments demonstrate this range and have the potential to generate attractive risk-adjusted returns through outsized greenhouse gas emissions abatement in the next ten years.
Clara Barby CBE Senior Partner of Just Climate.