Blastr Green Steel has completed its second strategic partner financing round, advancing the development of a European integrated ultra-low CO2 steel value chain with its flagship steel plant in Finland.
The round included Blastr’s three founding investors and three new partners, all focused on sustainable growth. New investors are Aurora Infrastructure, a leading provider of asset financing and electricity network solutions in the Nordics; Onvest Oy, a family-owned company supporting sustainable growth; and Security Trading Oy, an investment firm dedicated to a more sustainable future.
Original investors, including global steel leader Cargill, Finland’s state-owned Tesi, and Blastr’s founder Vanir Green Industries, increased their ownership in Blastr.
The funding will support Blastr’s steel plant in Inkoo, Finland, and the development of its pellet plant, which will produce 6 mln tons of DR pellet feedstock annually.
In late 2024, Blastr submitted its Environmental Impact Assessment (EIA) for the Inkoo plant, which confirmed that the facility could be built sustainably. Based on this, Blastr plans to apply for environmental permits in 2025.
