ArcelorMittal

ArcelorMittal is a global leader in the steel and mining industry, specializing in the exploration, mining, and production of iron ore. The company produces a wide range of steel products, including hot-rolled and cold-rolled coils, coated products, tinplate, and long products such as rebar and wire rods. These products serve various sectors, including automotive, construction, household appliances, and packaging. ArcelorMittal is committed to developing technologies aimed at reducing the carbon footprint associated with steel production. The company operates across multiple regions, with significant revenue generated from Europe and the United States, reinforcing its position as a key player in the global market.

Irina Garbounova

Vice President M&A

29 past transactions

Utility Global

Series C in 2024
Utility Global, Inc. is a company based in Provo, Utah, founded in 2018, that specializes in developing innovative technologies for a low-carbon future. The company has created eXERO™, a proprietary gas production technology that efficiently converts variable industrial process gases into high-purity hydrogen and a concentrated CO2 stream, without requiring electricity. This system allows for on-site carbon capture from a single location, enhancing cost-effectiveness. In the steelmaking industry, the hydrogen produced can be utilized as a substitute for coke, while the high purity of the CO2 stream simplifies and reduces the costs associated with carbon capture, playing a crucial role in the decarbonization of steel production.

Vallourec

Post in 2024
Vallourec is a leading provider of premium tubular solutions, primarily catering to the energy sector and demanding industrial applications, including oil and gas wells, power plants, architectural projects, and high-performance mechanical equipment. With over 50 years of experience, the company has established itself as a significant player in the seamless precision steel tube market, holding a substantial market share in Europe. Vallourec's operations are organized into several business segments, including Seamless Tubes, Specialty Products, and various holding companies. The company's diverse product portfolio features a wide range of seamless tubes, specialty tubes, and related connections and accessories. Vallourec serves a broad geographic market, with its primary revenue sources stemming from North America, while also maintaining a presence in Europe, South America, Asia, and other regions.

Char Technologies

Post in 2023
CHAR Technologies is a cleantech company that focuses on high-temperature pyrolysis to transform woody materials and organic waste into renewable gases, including renewable natural gas and green hydrogen. The company also produces a proprietary activated charcoal-like material known as SulfaCHAR, which effectively removes hydrogen sulfide from gas streams, particularly those rich in methane and odorous compounds. After its initial use in gas cleaning, SulfaCHAR can be repurposed as a sulfur-enriched biochar, serving as a valuable soil amendment for agricultural applications. In addition to its core products, CHAR Technologies offers customized equipment for industrial water treatment and provides a range of services in environmental compliance, environmental management, engineering, and resource efficiency.

LanzaTech

Post in 2023
LanzaTech is turning our global carbon crisis into a feedstock opportunity with the potential to displace 30% of crude oil use today and reduce global CO2 emissions by 10%. By recycling carbon from industrial off-gases; syngas generated from any biomass resource (e.g. municipal solid waste (MSW), organic industrial waste, agricultural waste); and reformed biogas, LanzaTech can reduce emissions and make new products for a circular carbon economy. LanzaTech’s carbon recycling technology is like retrofitting a brewery onto an emission source like a steel mill or a landfill site, but instead of using sugars and yeast to make beer, pollution is converted by bacteria to fuels and chemicals! Imagine a day when your plane is powered by recycled GHG emissions, when your yoga pants started life as pollution from a steel mill. This future is possible using LanzaTech technology.

Boston Metal

Series C in 2023
Boston Metal is a metallurgy company focused on reducing the carbon footprint of steel production through its innovative Molten Oxide Electrolysis (MOE) technology. Established in 2012 as a spin-off from MIT, the company has developed an industrial-scale solution that enables the efficient and cost-effective production of a diverse range of metals and alloys. Utilizing an electrolytic cell, Boston Metal processes raw iron ore to create ferroalloys, which are essential for producing various grades of steel. The company's advancements in MOE technology have resulted in a significant scaling of production capabilities, achieving a 1,000-fold increase and generating thousands of kilograms of metal. Headquartered in Woburn, Massachusetts, Boston Metal aims to provide a greener alternative for the metal industry by leveraging its unique process and a variety of feedstocks.

Riwald Recycling

Acquisition in 2022
Riwald Recycling recycles hundreds of thousands of tonnes of waste, ranging from electrical household equipment to industrial high-quality residual flows to entire trains and airplanes.

Sirros IoT

Seed Round in 2022
Sirros IoT specializes in developing Internet of Things (IoT) systems aimed at enhancing industrial operations through effective data collection and analysis. The company provides a unified platform that captures advanced data from various sources, including sensors, cameras, and overall equipment effectiveness (OEE) integrations. By centralizing operational data, Sirros IoT enables businesses to monitor efficiency, increase productivity, and reduce costs. Additionally, the incorporation of artificial intelligence helps clients make informed decisions, ultimately allowing them to maximize their operational potential and embrace the advancements of Industry 4.0.

Companhia Siderúrgica do Pecém

Acquisition in 2022
Companhia Siderúrgica do Pecém is an industrial company based in Brazil that specializes in the production and export of steel slabs. It operates as a bi-national joint venture, with a 50% stake held by Vale S.A., a prominent iron ore mining company. The remaining ownership is divided between South Korean Dongkuk, which holds a 30% stake as a buyer of steel slabs, and Posco, the fifth largest steelmaker in the world, which owns 20%. This collaborative structure allows Companhia Siderúrgica do Pecém to leverage resources and expertise from both Brazilian and South Korean industries to enhance its production capabilities and market reach.

H2Pro

Series B in 2022
H2Pro, Ltd. is a renewable energy company based in Caesarea, Israel, founded in 2019. The company specializes in developing innovative water-splitting technology aimed at producing hydrogen fuel efficiently. Its proprietary method, known as E-TAC (Electrochemical–Thermally-Activated Chemical water splitting), effectively decouples the hydrogen and oxygen evolution reactions, allowing for the generation of hydrogen and oxygen in separate phases. This technology is designed to facilitate the widespread adoption of sustainable hydrogen fuel by providing an efficient, affordable, safe, and environmentally friendly means of hydrogen production.

Heliogen

Post in 2021
Heliogen, Inc. is a clean energy technology company based in Pasadena, California, founded in 2013. It specializes in using concentrated solar power to produce renewable fuels such as hydrogen and syngas, aiming to eliminate reliance on fossil fuels in heavy industry. The company has developed innovative systems, including HelioMax, a closed-loop control system for electricity generation and process heat applications, and HelioHeat, which provides carbon-free, ultra-high-temperature heat for sectors like cement, refining, and mining. Heliogen’s AI-enabled modular technology enables the cost-effective delivery of continuous carbon-free energy in the form of heat, power, or green hydrogen, marking a significant advancement in sustainable energy solutions.

LanzaTech

Funding Round in 2021
LanzaTech is turning our global carbon crisis into a feedstock opportunity with the potential to displace 30% of crude oil use today and reduce global CO2 emissions by 10%. By recycling carbon from industrial off-gases; syngas generated from any biomass resource (e.g. municipal solid waste (MSW), organic industrial waste, agricultural waste); and reformed biogas, LanzaTech can reduce emissions and make new products for a circular carbon economy. LanzaTech’s carbon recycling technology is like retrofitting a brewery onto an emission source like a steel mill or a landfill site, but instead of using sugars and yeast to make beer, pollution is converted by bacteria to fuels and chemicals! Imagine a day when your plane is powered by recycled GHG emissions, when your yoga pants started life as pollution from a steel mill. This future is possible using LanzaTech technology.

Heliogen

Corporate Round in 2021
Heliogen, Inc. is a clean energy technology company based in Pasadena, California, founded in 2013. It specializes in using concentrated solar power to produce renewable fuels such as hydrogen and syngas, aiming to eliminate reliance on fossil fuels in heavy industry. The company has developed innovative systems, including HelioMax, a closed-loop control system for electricity generation and process heat applications, and HelioHeat, which provides carbon-free, ultra-high-temperature heat for sectors like cement, refining, and mining. Heliogen’s AI-enabled modular technology enables the cost-effective delivery of continuous carbon-free energy in the form of heat, power, or green hydrogen, marking a significant advancement in sustainable energy solutions.

Guaranteed

Venture Round in 2019
Guaranteed specializes in the repair and rebuild of large industrial components, utilizing direct energy deposition technologies. This innovative approach enables the on-demand repair and rebuilding of slow-moving parts, significantly reducing lead times and minimizing the reliance on new raw materials. By avoiding the costs associated with storage and transportation, Guaranteed serves various heavy industries, including mining, oil and gas, railway, maritime, and energy. The company also offers advanced simulation, monitoring, and inspection tools to ensure high-quality, defect-free production outcomes.

ILVA S.p.A.

Acquisition in 2018
ILVA S.p.A. produces and distributes iron and steel products.

Exosun

Acquisition in 2018
Exosun designs, develops and markets a range of solar trackers. Exotrack® plus a full range of support services encompassing the entire life cycle of a solar power plant. The company’s goal: lower the cost of solar kWh as far as possible by using tracker systems designed for both conventional (PV) and concentrated (CPV) photovoltaic power plants. The company, which is also very active on the R&D front, develops concentrated solar systems to generate energy for industrial processes.

Thyssenkrupp Steel USA

Acquisition in 2013
Thyssenkrupp Steel USA, LLC manufactures fabricated structural metal, steel, other metal products for structural purposes.

Baffinland Iron Mines

Acquisition in 2011
Baffinland Iron Mines Corporation is engaged in the exploration and development of iron ore projects in the Qikiqtani Region of Nunavut, Canada, specifically on Baffin Island. Founded in 1986 and based in Oakville, the company operates the Mary River property, which includes nine high-grade iron ore deposits. Baffinland also maintains additional offices in several communities across Nunavut, including Iqaluit, Arctic Bay, and Clyde River. As of February 2011, it operates as a subsidiary of Nunavut Iron Ore Inc. The company focuses on sustainable mining practices while contributing to the local economy and community development.

Dubai Steel Trading Company

Acquisition in 2009
Dubai Steel Trading Company, LLC distributes finished steel products to the construction market.

Solyndra

Series E in 2008
Solyndra is a manufacturer of cylindrical panels of CIGS thin-film solar cells based in Fremont, California. Solyndra designs and manufactures photovoltaic systems, comprised of panels and mounting hardware, for the commercial rooftop market. Solyndra employs high volume manufacturing based on proven technologies and processes to meet the needs of the global solar market. Using proprietary cylindrical modules and thin-film technology, Solyndra systems are designed to provide the lowest installed cost per system and the highest solar electrical energy output for typical low slope commercial rooftops. Founded in 2005 and headquartered in Fremont, California, Solyndra operates a state-of-the-art 300,000 square foot fully-automated manufacturing complex.

Galvex OÜ

Acquisition in 2008
Galvex OÜ owns and operates steel galvanizing plant at the Muugu Port in Tallinn, Estonia. It engages in the production of corrosion resistant and zinc coated sheet steel in commercial and structural grades that are used in the building industry.

Eisen Wagner

Acquisition in 2008
Eisen Wagner is a privately held company that distributes steel and steel products. Eisen Wagners is a specialist for home, craft, and industry.

Cinter S.A.

Acquisition in 2007
Cinter S.A. produces carbon and aluminized carbon steel products, and tubes for the automotive industry. The company offers various tubes, such as square, rectangular and ovoid sections, coils, steel strips, and flat sheets.

Vallourec Composants Automobiles Vitry

Acquisition in 2007
Vallourec Composants Automobiles Vitry engages in chassis, energy absorption and passive safety functions.

M.T. Majdalani Y Cia. S.A.

Acquisition in 2007
M.T. Majdalani Y Cia. S.A. manufactures stainless steel sheets in Argentina. Its products include plates coils straps, pipes and tubes, steel flats, steel angles, electrodes, bars, sanitary pipeline fittings, valves, and flanges.

NSD

Acquisition in 2007
NSD Limited, a leading steel distribution company specialising in sales of heavy sections and tubes based in Scunthorpe, North Lincolnshire, UK, in order to increase its commercial presence in the UK market.

Sicartsa

Acquisition in 2006
Sicartsa is a fully integrated producer of long steel, with an annual production capacity of approximately 2.7 million tonnes from its facilities in Mexico and Texas, USA. Through its wholly owned mine, linked directly to the plant via a slurry pipeline, Sicartsa has estimated iron ore reserves of 160 million tonnes, providing 30 years of reserves at current production rates.

Ispat Inland

Acquisition in 2005
Ispat Inland Inc. produces and distributes steel and related products in the United States. Its Flat Products division manages the company's iron ore and iron making operations, conducts its ironmaking operations, and produces its raw steel.

Ispat Unimetal S.A.

Acquisition in 1999
Ispat Unimetal S.A. manufactures and markets steel products. Its products includes long / wire rod, and bars.
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