Severstal launches investment initiative to access value adding, leading edge technology

PAO Severstal, one of the world’s leading vertically integrated steel and mining companies, is pleased to announce that its subsidiary, Melsonda Holdings Ltd., has invested in Pangaea Ventures Fund IV, LP (“Pangaea IV”). Pangaea IV is managed by Pangaea Ventures Ltd., the leading advanced materials venture capital fund in the world. In parallel with this investment, Severstal has established a new corporate division, Severstal Ventures, to develop venture projects involved with new production technologies and materials. This twin approach – investing in high profile funds and working with start-ups directly – will give Severstal access to innovative technology and projects with high impact potential.

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