GravitHy raises €60 Million to accelerate steel industry decarbonization

Strategic Investors Join Our Journey

This Series A round attracted new world-class partners:
Ecolab, Japan Hydrogen Fund (managed by Advantage Partners), Marcegaglia, Rio Tinto, Siemens Financial Services, alongside our historical shareholders InnoEnergy and Engie New Ventures.

Their commitment enables us to move forward with key priorities: securing critical contracts, advancing engineering studies, obtaining permits, and recruiting top talent—leading up to the Final Investment Decision in 2026.

We are thrilled by the confidence our diverse investors have shown in GravitHy. Collaboration is key to disrupting the steel value chain, and we are proud to welcome these incredible partners who share our vision, values, and development goals. Their support accelerates our flagship project in Fos-sur-Mer, creating jobs, driving technological progress, and setting a blueprint for a resilient, decarbonized, and sovereign European steel industry.
— José Noldin, CEO of GravitHy

A pioneering plant in France

Our 75-hectare site in Fos-sur-Mer represents a total investment of €2.2 billion and will create up to 500 direct jobs. Commercial production is scheduled to start in 2029, following a comprehensive testing and commissioning phase.

The plant will produce 2 million tonnes per year of Direct Reduced Iron (DRI) and Hot Briquetted Iron (HBI)—the equivalent of one Eiffel Tower per day. It will be powered by a 750 MW electrolyzer, the largest in France and among the largest worldwide.

A major impact on the energy transition

Producing low-carbon iron will reduce CO₂ emissions by up to 90% compared to traditional processes. With steelmaking responsible for 8% of global emissions, our solution is critical to achieving net-zero targets.

Supported by European industrial policy

Our project benefits from a strong regulatory framework and European initiatives promoting industrial sovereignty and decarbonization, reinforced by programs such as the Clean Industrial Deal and the Steel and Metals Action Plan, in a market facing growing demand for low-carbon metallic products.

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