Gravithy

The company's core business is the production of low-carbon Direct Reduced Iron (DRI) and Hot-Briquetted Iron (HBI) using green and low-carbon hydrogen. This process aims to eliminate the CO2 emissions from the iron production stage, which is responsible for about 80% of the emissions in traditional steelmaking. The DRI/HBI produced serves as a feedstock for steelmakers, particularly for electric arc furnaces, enabling them to produce green steel without investing heavily in the entire hydrogen and DRI value chain themselves. This business model separates iron production from steel production, offering flexibility and a capex-light solution for its clients.

GravitHy plans to build its first plant in Fos-sur-Mer, France, with a total investment of €2.2 billion. The facility is scheduled to begin commercial production in 2029, with an annual capacity of two million tons of DRI/HBI. A key feature of the plant will be an on-site electrolyzer with approximately 750 MW capacity to produce the necessary hydrogen, making it one of the largest in the world. To power its operations, GravitHy has signed a letter of intent with EDF for electricity supply from nuclear power. The company has secured significant partnerships, including an agreement with Rio Tinto for the supply of high-grade iron ore pellets and for the sales and marketing of the HBI produced. In March 2025, GravitHy raised €60 million from investors including Rio Tinto, Siemens Financial Services, Ecolab, Marcegaglia, and Japan Hydrogen Fund, alongside existing shareholders like Engie New Ventures and InnoEnergy, to finance its development plan.