GravitHy aims to make a final investment decision after completing the project development process in 2026. The company plans to secure key contracts, finalize engineering work, obtain necessary permits, and strengthen its expert team with this funding. Additionally, GravitHy is continuing negotiations with new investors to further strengthen its capital structure and support the transition to the construction and commercial production phases.
With an investment of 2.2 billion euros, the facility to be established in Fos-sur-Mer, France, is planned to start commercial production in 2029, with an annual production capacity of 2 million tons of DRI/HBI. A 750 MW electrolyzer will be installed, making it one of France's largest green hydrogen production infrastructures.
GravitHy aims to provide a low-carbon alternative to traditional coke-based iron production using green hydrogen in the DRI/HBI production process. This innovative approach seeks to offer more sustainable and environmentally friendly solutions to steel producers, contributing to Europe's net-zero goals.
GravitHy CEO José Noldin stated, “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."
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