Investment company Just Climate has announced it will be investing in three companies focussed on decarbonisation.
ABB E-Mobility, H2 Green Steel and Meva Energy are all set to receive an undisclosed level of investment to help scale up their businesses and drive down emissions of hard-to-abate industries.
Just Climate was created as an arm of Generation Investment Management to drive sustainable investment in smaller businesses.
ABB E-Mobility is a Swiss-based electric vehicle (EV) charging firm that creates chargers both for homes and motorways.
H2 Green Steel is a Swedish start-up that has developed a means to replace coal with green hydrogen when creating steel, allegedly cutting the emissions of the process by up to 95%.
Meva Energy is another Swedish business that has created a technology that provides a renewables-based gas for the manufacturing industry.
In addition to the innovations created by each business, Just Climate has stressed attacking the emissions of these industries is critical in the race to net zero – with transport accounting for 24% of the world’s emissions and steel production making up 7%.
Shaun Kingsbury, Chief Investment Officer at Just Climate, said: “All three solutions bring to life our thesis of investing in transformational solutions for the highest-emitting, hard-to-abate sectors while delivering attractive risk-adjusted returns for our investors.”
Björn Rosengren, CEO of ABB, added: “We are delighted to see investors sharing our strong confidence and trust in the E-Mobility business growth story.”
“Being among the first green impact investments of Just Climate shows the impact our company will have on some of the dirtiest industries today,” added H2 Green Steel CEO, Henrik Henriksson.
Meva Energy CEO, Niclas Davidsson, stated: “We are really happy to achieve this big financing milestone from a climate-led, global investor. This important step forward significantly increases our ability to deliver impactful and sustainable biosyngas plants to the manufacturing industry.”