Stegra Secures €1.4 Billion Financing to Complete Green Steel Plant Construction

Swedish green iron and steel maker Stegra announced a €1.4 billion financing round to complete the construction of its large-scale green steel plant in Boden, Sweden. The financing round is led by a €250 million equity investment from Wallenberg Investments, with participation from consortium investors including Temasek and IMAS. This funding will provide Stegra with a fully funded path to complete the construction and commissioning of the plant, which aims to produce 5 million tonnes of green steel annually using hydrogen produced with green power. Existing shareholders Altor, Hy24, and Just Climate also supported the round. The project's timeline is under review, but Stegra will now ramp up construction activities.

Counterparts (7)

Investor

I

IMAS

company

Just Climate

company

Just Climate is an investment platform focused on climate-led investing, aiming to address climate change by scaling breakthrough climate solutions. They focus on high-impact investments that can deliver significant and measurable climate benefits.

Altor

company

Altor is a private equity firm focused on investments in the Nordic region. They target mid-sized companies across various sectors, aiming to create value through operational improvements and strategic repositioning.

W

Wallenberg Investments

company

Temasek Holdings

company · 2 deals

Temasek Holdings is a Singaporean sovereign wealth fund that invests globally across a variety of sectors. Their investment strategy focuses on long-term trends and opportunities, including sustainable living, future of consumption, longer lifespans and a more connected world.

Hy24

company

Hy24 is a clean hydrogen investment platform that aims to accelerate the transition to a low-carbon economy. The company focuses on investing in hydrogen production, transportation, and storage projects.

borrower

Stegra

company

Stegra is a global engineering and construction company that delivers infrastructure projects. They focus on providing sustainable solutions and technical expertise across various sectors.