GreenIron in a SEK 100 million capital raised backed by FAM.

GreenIron, a Stockholm, Sweden-based tech manufacturer reducing the climate footprint in industrial organisations, announced completing a SEK 100 million ($11M) capital funding round.

The money was raised from investors from Sweden, including Wallenberg's vehicle FAM, Longrun Capital and local agency Almi Invest. Proceeds will be used for establishing a first full-scale production facility

GreenIron, founded in 2018 by Hans Murray and led by his son Edward Murray as CEO, developed an energy-efficient process for sustainable recycling of residual products from the steel and mining industry. The process is pellet based and stems from Hans Murray's research into recycling of secondary materials containing steel and iron at the end of the 1960’s.

In the steel production chain, waste and residual products arise that are only reused on a small scale in steel production. These residues can be recycled in some places through fossil-based processes. Instead, a large part of the world's total residual waste goes to landfill - GreenIron's tech helps reducing the steel industry's CO2 footprint by recovering a significantly larger share in a sustainable way.