ALADEL STEEL, an innovative steel manufacturing company based in Egypt, has officially joined the LaunchUp program by FasterCapital. The company, led by Dr. Ahmed Adel Saad Mohamed, is raising $4M to establish a cutting-edge iron production facility that recycles scrap steel into billets using vertical casting technology, with plans to upgrade to continuous casting in the future.

The startup aims to fill a critical gap in Egypt’s steel industry by addressing the shortage of high-quality, locally produced steel inputs used in construction and manufacturing. Through a vertically integrated process—from melting scrap to rolling billets into angles, sections, and eventually reinforcing bars—ALADEL STEEL promotes sustainable industrial growth while reducing reliance on imported materials.

“We are thrilled to welcome ALADEL STEEL into our LaunchUp program,” commented Hesham Zreik, CEO of FasterCapital. “This is the kind of forward-thinking industrial project that blends sustainability with strategic market demand. Their focus on recycling and local production is exactly what emerging markets need.”

He added, “Dr. Ahmed and his team are introducing a game-changing initiative that not only addresses a real supply challenge but also creates long-term value for Egypt’s economy.”

From the company’s side, Dr. Ahmed Adel Saad Mohamed Hassan said, “Joining LaunchUp is a significant step for ALADEL STEEL. We are looking forward to working with FasterCapital to refine our strategy, secure funding, and scale our operations. This partnership brings us closer to making high-quality, eco-friendly steel production a reality in Egypt.”

ALADEL STEEL’s vision of sustainable manufacturing, combined with the support of FasterCapital’s LaunchUp program, positions the company as a rising industrial leader in North Africa.