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French low-carbon iron producer GravitHy raises $65 million

Published by Global Banking & Finance Review

Posted on March 26, 2025

1 min read

· Last updated: January 24, 2026

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GravitHy Raises $65M for Low-Carbon Iron Plant in France

By Sudip Kar-Gupta

PARIS (Reuters) - GravitHy, a low-carbon French iron producer which is planning to build a plant in southern France, said on Wednesday it had raised 60 million euros ($65 million).

The company, founded in 2022, said its latest fundraising had brought in new investors such as Rio Tinto and Siemens, along with money from existing shareholders Engie New Ventures and InnoEnergy.

Europe is keen to develop more of its own steel. The European Commission also plans to tighten import restrictions to make the steel sector more competitive.

The company is planning to build its plant in Fos-sur-Mer, near Marseille, and get it commissioned by the end of 2028. It says the new plant will create 500 jobs and represent a total investment of 2.2 billion euros.

Investment banks Rothschild and Societe Generale advised GravitHy on the fundraising round.

($1 = 0.9262 euros)

(Reporting by Sudip Kar-Gupta; Editing by Rachna Uppal)

Key Takeaways

  • GravitHy raised 60 million euros for a new plant.
  • New investors include Rio Tinto and Siemens.
  • The plant will be located in Fos-sur-Mer, France.
  • The project aims to create 500 jobs by 2028.
  • Total investment for the plant is 2.2 billion euros.

Frequently Asked Questions

What is the main topic?
The main topic is GravitHy's fundraising of $65 million to build a low-carbon iron plant in France.
Who are the new investors in GravitHy?
New investors include Rio Tinto and Siemens, alongside existing shareholders.
Where will the new plant be located?
The new plant will be located in Fos-sur-Mer, near Marseille, France.

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