Global steel industry leaders, including Cargill Metals, Germany’s INTERFER Group, Tesi, and Vanir Green Industries, have invested in Blastr Green Steel’s equity financing round. This funding will support the development of a steel plant in Inkoo, Finland, and a Northern European facility to produce 6 million metric tons of low-carbon DR pellets annually. The investment will also aid in organizational expansion and supply chain activities.

Blastr is now establishing agreements across the green steel value chain, from steelmaking technology supply to raw materials and pellet production, working with Cargill Metals. These agreements will form the foundation for construction financing, with the goal of making final investment decisions for the pellet and steel plants by early 2026 and starting production before 2030. Blastr aims to create a low-carbon mine-to-gate steel value chain with 90% lower CO₂ emissions than traditional methods, using hydrogen and carbon-free energy.