"Stegra has agreed in principle on €1.4 billion in new financing to complete the construction of what would be the world's first large-scale green steel plant, located in Boden in northern Sweden."
"The Wallenberg family will contribute €250 million and, upon closing, will become Stegra's largest shareholder. Existing investor Altor will be the second largest owner."
"Construction at the Boden plant had slowed significantly during the fundraising process. Stegra said it will now ramp activities back up, though the project timeline is under review."
"Leif Johansson expressed confidence in Stegra's competitiveness and the commercial attractiveness of green steel, while also emphasizing the need for caution in the investment."
Stegra, previously known as H2 Green Steel, has secured €1.4 billion in financing led by Wallenberg Investments, including Temasek and IMAS. The funding will help complete the construction of the world's first large-scale green steel plant in Boden, Sweden. The Wallenberg family will become the largest shareholder, contributing €250 million. Construction had slowed due to fundraising, but activities will now ramp up. The project timeline is under review, with principal agreements expected by April and financing closing targeted for June 2026.
Read at TNW | Investors-Funding
Unable to calculate read time
Collection
[
|
...
]