Blastr Green Steel has secured a new strategic investor in its latest round of financing, aiming to collaborate on best-in-class water systems at its projected plant in Inkoo, Finland.
In addition to investing in the project, new partner Ecolab has commenced the design of, and intends to subsequently build and operate the water management system at the plant, Blastr tells Kallanish.
According to Blastr, Ecolab is a global leader in water, hygiene and infection prevention solutions and services, operating in more than 170 countries. Its Nalco Water business provides sustainable water solutions to steel companies and other customers to reduce water usage, maximise production process water reuse and wastewater recycling, and minimise treated effluent discharged.
The parties will work together to minimise seawater intake, seawater discharge, and heat load to the sea, with potential reductions estimated at up to 85-90%. Further advances will be explored through innovative stormwater integration and the use of municipality wastewater, Blastr notes.
The company adds it will shortly launch its Series A investment round through its recently announced financial advisor, Evercore.
“Strategic collaborations, such as this most recent one with Ecolab, further enhance Blastr’s financial case as we build momentum in our funding,” says Blastr chief financial officer David Morant.
Christian Koehl Germany
