Stegra has announced the launch of a new financing round to support the continued construction of its landmark green steel plant in Boden, Sweden — the world’s first large-scale facility of its kind. The move follows strong initial commitments from the company’s existing investors and founders, underscoring confidence in Stegra’s long-term business model and execution strategy.
“The strong backing from our founders and lead investors, who remain firmly committed to this project, is a clear testament to Stegra’s solid business case,” said Henrik Henriksson, CEO of Stegra. “We hold a unique position in the green steel landscape with a robust order book, competitive cost structure, and proven delivery capabilities.”
The new funding round is expected to represent up to 15% of the total project financing, comprising a mix of new equity, debt, outsourcing arrangements, and strategic partnerships. Alongside the initial equity commitments, Stegra is also in advanced discussions with partners for key outsourcing opportunities.
According to Henriksson, the project is now over 60% complete, with a detailed plan and clear visibility toward full completion. The updated schedule includes a three-month extension to accommodate additional project scope.
“This financing round will give us the additional strength needed to continue progressing the project efficiently and responsibly toward completion,” Henriksson added.
The proceeds will cover newly insourced infrastructure, including railway and port facilities that were initially planned to be financed externally. Stegra will now design, construct, and own these critical assets, ensuring greater control and coordination within the overall project timeline. The funds will also support additional groundwork, cost inflation coverage, and a financial buffer to offset state grants that were approved by the EU Commission but not disbursed.
Stegra’s Boden plant represents a transformative step in industrial decarbonization, pioneering the use of green hydrogen and renewable energy to produce fossil-free steel at scale — setting a new global benchmark for sustainable steelmaking.
