Stegra completes €1.4 billion (USD$1.6 billion) financing round for green steel plant in Sweden
Type: Financing · Technology: Industrial · Country: Sweden · Value: $1.6B · Announced: 2026-06-24
Swedish green iron and steel maker Stegra closed a €1.4 billion (USD$1.6 billion) financing round to complete the construction of its large-scale green steel plant in Boden, Sweden. The financing round was led by Wallenberg Investments, a foundation of Sweden's Wallenberg family, and included a consortium of existing and new investors. This funding provides a major lifeline to the project, which had slowed development pending the outcome of the financing process. The plant, which began construction in 2022, aims to produce 5 million tonnes of green steel annually using hydrogen produced from green power and 100% renewable electricity. A new holding company, Stegra Holding AB, now holds over 90% of the shares and votes in Stegra, with former Volvo Group CEO Leif Johansson appointed as the new chair of the board.
Counterparties
- IMAS (Investor)
- Stena Metall Finans (Investor)
- Schaeffler (Investor)
- AMF (Investor)
- Just Climate (Investor)
- Altor (Investor)
- Kallskär (Investor)
- Wallenberg Investments (Investor)
- Swedbank Robur (Investor)
- Lingotto Innovation (Investor)
- Security Trading (Investor)
- Stegra (Borrower)
- SEB-Stiftelsen (Investor)
- Scania (Investor)
- Climate Infrastructure Fund (Investor)
- Kobe Steel (Investor)
- Temasek Holdings (Investor)
- Bolero (Investor)
- AP2 (Investor)
- Hy24 (Investor)