Green steel makers amass funds from global investors (axios.com)
Banks, investors and governments are funneling money into major players with plans to produce low-carbon steel.
Why it matters: Steel production is a major contributor to carbon emissions and is one of the most widely used construction materials.
Swedish low-carbon steel maker H2 Green Steel said it's raised €4.75 billion ($5.2 billion)
Major steel makers are also cleaning up, and last year the European Union approved €2.85 billion to help ArcelorMittal and Thyssenkrupp decarbonize steel production.
Big picture: Global investors and governments have woken up to the energy transformation required and the market potential of cleaning up steel production."
Follow the money trail. MGT is right smack in the middle. Happy 2024!
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