Investment Company 'Just Climate' Makes Initial Funding Allocations, With H2 Green Steel Among The Recipients
Just Climate, an investment firm created by Generation Investment Management, has announced three significant investments aimed at addressing the net-zero challenge at scale. The investments, announced on February 1, 2023, include solutions for the commercialisation of 95% decarbonised steel, a natural gas substitute based on wood waste, and electric charging solutions for a wider range of road transport.
In the steel industry, Just Climate has invested in H2 Green Steel, an industrial start-up based in Sweden. By replacing coal traditionally used in steelmaking with green hydrogen powered by renewable electricity, H2 Green Steel aims to reduce emissions of steel by as much as 95%. Henrik Henriksson, CEO of H2 Green Steel, believes that Just Climate's investment in their company will have a significant impact on decarbonising heavy polluting industries.
In the transportation sector, around 24% of all emissions come according to the International Energy Agency (IEA). To help decarbonise road transport, Just Climate has invested in ABB E-mobility, a Swiss-based global leader in electric vehicle (EV) charging solutions. Bjoern Rosengren, CEO of ABB, is pleased with the investment from Just Climate in the E-mobility business.
The third investment by Just Climate is in Meva Energy, also based in Sweden. Meva Energy provides an innovative gasification technology to generate renewable energy for manufacturing sectors. Niclas Davidsson, CEO of Meva Energy, is happy about the investment from Just Climate, as it increases their ability to deliver sustainable biosyngas plants to the manufacturing industry.
Clara Barby CBE, Senior Partner of Just Climate, stated that the investments demonstrate a range of solutions with the potential to generate attractive risk-adjusted returns through outsized greenhouse gas emissions abatement in the next ten years. Shaun Kingsbury CBE, Chief Investment Officer of Just Climate, echoed this sentiment, stating that the investments reflect Just Climate's approach of investing in scalable solutions with transformational potential that can help deliver sector-wide decarbonisation in hard-to-abate industries.
Just Climate's investments are part of their strategy to invest in scalable solutions with transformational potential that can help deliver sector-wide decarbonisation in hard-to-abate industries. Clara Barby CBE, recognised for her leadership in climate finance and sustainable investment initiatives, leads Just Climate in this mission.
ABB remains committed to separately listing the E-mobility business, subject to constructive market conditions. The investments made by Just Climate are expected to deliver attractive risk-adjusted returns for their investors. With these investments, Just Climate continues to demonstrate its commitment to driving sustainable change and contributing to a greener future.
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