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Wallenberg Family Fuels Swedish Green Steel
14 Apr
Summary
- Stegra secured 1.4 billion euros in new funding.
- Wallenberg Investments led the investor consortium.
- Funding will complete construction of the green steel plant.
Swedish green steel innovator Stegra has successfully raised 1.4 billion euros in a major funding round. The investment consortium was spearheaded by Wallenberg Investments, representing Sweden's prominent Wallenberg family, alongside participants Temasek and IMAS. This substantial financial injection is earmarked for the completion of Stegra's flagship hydrogen-based steel plant situated in northern Sweden.
Previously known as H2 Green Steel, the company had in 2024 secured approximately 6.5 billion euros in loans and equity. In October of the preceding year, Stegra had initiated a search for additional capital to finalize its ambitious plant construction. The latest funding agreement is subject to final credit approvals and documentation.
