GravitHy, a Marseille based startup tackling one of the hardest sectors to decarbonize steel has just raised €60 million in fresh funding to bring its low carbon iron technology to market. Backed by a diverse roster of global investors, the company is gearing up to reshape the future of European steel production with its clean tech vision.
Founded in 2022, GravitHy is focused on producing Direct Reduced Iron (DRI) and Hot Briquetted Iron (HBI) using low carbon hydrogen. These materials are critical to enabling steelmakers to produce green steel without overhauling their entire production infrastructure. As industrial players scramble to cut emissions and meet increasingly strict EU standards, GravitHy offers a ready made, scalable solution that plugs directly into their value chain.
The €60 million funding round adds serious momentum to GravitHy’s plans. It brings in heavyweight new investors like Japan Hydrogen Fund (advised by Advantage Partners), Marcegaglia, Ecolab (via Nalco Dutch Holding), Rio Tinto, and Siemens. Returning backers Engie New Ventures and InnoEnergy also doubled down, reinforcing their belief in the company’s mission and execution.
GravitHy’s CEO José Noldin expressed confidence in this new wave of support, emphasizing the importance of collaboration in transforming one of the world’s most emissions heavy industries. He noted that this funding isn’t just about scaling operations it’s about laying the groundwork for Europe’s clean industrial future. The company’s flagship project in Fos sur Mer is now in sharper focus, with milestones including engineering, permitting, contract signings, and talent acquisition all on the fast track ahead of a final investment decision in 2026.
This funding milestone aligns perfectly with the European Commission’s increasing focus on industrial sovereignty and green transformation. New initiatives like the Clean Industrial Deal and the Steel & Metals Transition Plan are providing both regulatory support and investment frameworks aimed at slashing emissions in legacy industries like steel.
As the EU doubles down on decarbonisation, GravitHy is positioning itself as a key enabler. DRI and HBI are expected to become globally traded commodities in the years ahead, creating new trade routes and energy dependencies that are cleaner and more secure. The company is stepping into that gap with a business model that allows steelmakers to stay focused on what they do best, while outsourcing the complex and capital intensive hydrogen DRI process.
InnoEnergy CEO Diego Pavia highlighted the importance of securing strategic investors from across the green steel ecosystem, noting this round ensures long term demand for GravitHy’s low carbon output. He also pointed out that this funding is a signal of growing confidence in clean industrial ventures across Europe, with green steel at the center of a new industrial narrative.
GravitHy’s future production site is just as ambitious as its mission. Planned for the industrial zone in Fos sur Mer, the plant will sit on 75 hectares and is expected to generate 2 million tons of DRI/HBI annually—roughly equivalent to the weight of one Eiffel Tower every single day. The full project, estimated at €2.2 billion, will create up to 500 direct jobs and house an on site electrolyser with a capacity of 750 megawatts. That would make it the largest in France and one of the biggest hydrogen facilities globally.
The broader environmental stakes are huge. Traditional coke based ironmaking is responsible for more than 80% of CO2 emissions in the steelmaking process. Globally, the steel industry contributes around 8% of total carbon emissions. This is why transforming iron production is critical to achieving net zero goals, and why GravitHy’s technology is seen as more than just innovative it’s essential.
The international scope of this round adds even more weight. Keiichi Suzuki, Partner at Advantage Partners and Head of Renewables & Sustainability, emphasized Japan’s role in supporting hard to abate sectors like steel through collaborative investment. He said the Japan Hydrogen Fund aims to bring Japan’s clean energy expertise to major European projects, and hopes this investment will deepen ties between Europe and Japan in the clean industrial space.
As the race to decarbonize heats up, GravitHy is building serious momentum not just in financing, but in timing. Its model taps directly into the urgent need for cleaner supply chains, competitive green materials, and secure energy infrastructure. With a fully funded roadmap, key strategic alliances, and rising policy tailwinds, GravitHy is no longer just a startup it’s a central player in Europe’s green steel future.
