GravitHy has signed a land concession agreement with the Port of Marseille for a plot within the industrial-port zone in Fos-sur-Mer, southern France. This is a major step towards the development of the company’s green hydrogen-based direct reduced iron and hot-briquetted iron plant, which is targeted to commence operations in 2029.
According to the Port of Marseille, the project is set to play a key role in decarbonising the steel industry, with the potential to reduce carbon emissions by up to 90%.
“This partnership is fully aligned with our decarbonisation strategy and the conservation plan for the port’s natural heritage,” president of the port Marseille-Fos Hervé Martel says in a note obtained by Kallanish.
“In Fos-sur-Mer, we are building far more than just a plant: we are laying the foundations for a new steel industry – decarbonised, resilient, and sovereign. GravitHy is working hand in hand with the region to make the energy transition an industrial reality,” notes GravitHy president José Noldin.
In March, GravitHy finalised a funding round totalling €60 million ($69m). The capital will facilitate contract acquisition, engineering completion, and permit procurement. The firm is in discussions with prospective investors to advance towards the construction and commercial stages. It expects to reach a final investment decision by 2026.
The €2.2 billion facility is projected to produce up to 2 million tonnes/year of DRI and HBI, fed with hydrogen produced by a 750 MW electrolyser. Investors include Japan Hydrogen Fund, Marcegaglia, Rio Tinto, and Siemens Financial Services.
Natalia Capra France
