Backed by EIT InnoEnergy, Engie New Ventures, FORVIA, GROUPE IDEC, Plug, and Primetals Technologies, GravitHy plans to build, own and operate its first green iron and steel plant in France, mobilising 2,2B€ worth of initial investment, creating over 3,000 new jobs.
A consortium composed of EIT InnoEnergy, the innovation engine for sustainable energy supported by the European Institute of Innovation & Technology, a body of the European Union (EU), Engie New Ventures, Plug, FORVIA, GROUPE IDEC through GROUPE IDEC INVEST INNOVATION and Primetals Technoloiges as a partner of the consortium, today launch GravitHy – a future market leader in green steel. The fully sustainable iron and steel company will support the growing demand for zero carbon steel, whilst contributing to Europe’s “Fit for 55” package ambitions to decarbonise hard-to-abate industries. The project, which plans to mobilise 2,2B€ worth of investment at commissioning, will build its first plant in the area of Fos sur Mer, Southern France, with construction commencing in 2024. The company aims for the plant to be fully operational by 2027, subject to any required regulatory approvals. GravitHy has an ambition to produce, an annual throughput of 2 million tons of Direct Reduced Iron (DRI) and to create over 3,000 direct and indirect jobs for the region.
Sign up for the ENGIE Innovation Newsletter