Torun Litzén
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Kinnevik invests EUR 75 million in H2 Green Steel as part of a EUR 1.5 billion equity raise
Kinnevik AB (publ) ("Kinnevik”) today announced that it has invested EUR 75m in H2 Green Steel as part of a EUR 1.5bn equity raise. The funds raised will finance the construction and development of H2 Green Steel’s flagship large-scale green steel plant in Boden, Sweden. Groundworks have been ongoing on site in Boden since summer 2022, and through this transaction H2 Green Steel takes another big leap towards start of operations end of 2025. As part of the investment, Kinnevik will appoint an observer to H2 Green Steel’s Board of Directors.
Read full press releaseKinnevik’s Interim Report 1 January – 30 June 2023
”Disciplined capital allocation and using our strong financial position wisely to maximize the impact of our highest-conviction companies are crucial to long-term value creation. During the quarter, our dedication to these priorities and our unique ability to seize opportunities in the current market is manifested by our USD 100m investment in Spring Health. Through this investment, Spring Health represents our largest aggregate investment since we commenced our transformation in 2018. We believe Spring Health also has the potential to become one of the most successful investments in Kinnevik’s history.”
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