Swedish green tech startup Stegra has reached an agreement in principle for a 1.4 billion euro rescue financing package to complete its large scale green steel plant in Boden. The funding follows months of complex negotiations with investors and lenders to secure the future of the flagship facility.
A consortium led by Wallenberg Investments is set to take a leading position in the company. Other participants in the funding round include Temasek and IMAS, with additional support from existing shareholders such as Altor, Hy24, and Just Climate. The capital injection is intended to finalize construction and commissioning of the plant while establishing a financial buffer for the project.
The investment allows Stegra to resume full scale construction activities at the Boden site after a period of slower progress. The deal is subject to final credit approvals and customary closing conditions, with a formal close expected in June 2026. Upon completion of the funding, the company plans to appoint a new board of directors led by Leif Johansson.
A consortium led by Wallenberg Investments is set to take a leading position in the company. Other participants in the funding round include Temasek and IMAS, with additional support from existing shareholders such as Altor, Hy24, and Just Climate. The capital injection is intended to finalize construction and commissioning of the plant while establishing a financial buffer for the project.
The investment allows Stegra to resume full scale construction activities at the Boden site after a period of slower progress. The deal is subject to final credit approvals and customary closing conditions, with a formal close expected in June 2026. Upon completion of the funding, the company plans to appoint a new board of directors led by Leif Johansson.