Top 4 greensteel startups

Updated: Jan 02, 2026
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1
Spark Cleantech
Country: France | Funding: €34M
Spark Cleantech is developing a decarbonization system for heavy industry based on pulsed plasmalysis, which reduces emissions by 85% while simultaneously generating two decarbonized materials: solid carbon and hydrogen. Spark Cleantech's modules are installed between the client's existing gas network and their high-temperature industrial burners. Using pulsed plasma, the technology removes carbon from the gas before combustion, leaving only hydrogen - fully decarbonized energy source used directly in the production process. The extracted carbon is converted into a solid nanomaterial needed for polymer and battery production. Spark Cleantech's technology is currently being tested by clients in the metals, glass, polymer and battery industries.
2
Stegra
Country: Sweden | Funding: $10.9B
H2 Green Steel is building a steel production plant (in Boden, northern Sweden) that reduces the iron ore into green iron using 100% green hydrogen with near-zero emission. The heart of the plant is giga-scale electrolyzer, powered by renewable electricity (instead of coal) that splits water into its constituent parts: hydrogen and oxygen. Then in the reduction reactor the hydrogen reacts with oxygen in the iron ore, transforming the iron ore into sponge iron and producing (environmentally friendly) water steam. In the melt shop the iron is charged into an electric arc furnace, where it is mixed with steel scrap. It is then melted with a powerful electrode and alloys are added in a ladle furnace. The molten steel is transformed into solid products.
3
PeroCycle
Country: UK | Funding: £4M
PeroCycle provides a closed-loop carbon recycling system for steelmaking. It utilizes gases from blast furnaces, basic oxygen furnaces or direct reduced iron plants and utilizes industrial gas separation technology to produce a highly concentrated CO2 stream, which is then processed in a thermochemical reactor. The reactor operates at approximately 800°C and, using a proprietary active material, converts CO2 into CO for injection as a reducing agent into the blast furnace. This creates a sustainable carbon cycle that, when fully implemented, can reduce carbon emissions at a steel plant by up to 90%. The technology easily integrates with existing steelmaking systems, eliminating the need for new plants or significant infrastructure changes.
4
AMG ChemTech
Country: Serbia
AMG ChemTech Solutions offers an innovative, “zero-waste” technology to make steel production environmentally sustainable. Its patent-pending technology allows for an environmentally safe extraction of Zinc (Zn) during steel mill production, enabling significant cost benefits to steel producers while “recycling” metal waste to reduce landfill waste.
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Marjana Bačić
Editor: Marjana Bačić
Marjana Bačić is a senior editor for RecyclingStartups. She has has more than 5 years experience covering the recycling industry. Marjana graduated from University of Belgrade, where she edited Recycling and Sustainable Development Journal. She has helped several non-profit organizations dedicated to promoting environmental education and sustainability. She also participates in beach clean-up initiatives and advocates for sustainable practices in local businesses. In her free time, Marjana enjoys hiking in the scenic Montenegrin countryside, practicing yoga for mindfulness, and experimenting with plant-based recipes in her kitchen. You can contact Marjana at marjanabacic(at)recyclingstartups(dot)com