Green steel startup Stegra says $1.6 billion financing round is closed
Green steel startup Stegra says $1.6 billion financing round is closed
ReutersWed, June 24, 2026 at 6:45 AM UTC
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A general view of Europe's first greenfield steel mill in 50 years, under construction by Stegra, outside Boden, in northern Sweden, December 5, 2024. REUTERS/Simon Johnson
COPENHAGEN, June 24 (Reuters) - Swedish startup Stegra said on Tuesday its €1.4 billion ($1.59 billion) financing round led by a Wallenberg investments-consortium was completed, with strong support from existing investors as well as the original lender group.
Stegra in April said it had raised €1.4 billion in new financing led by Sweden's dynastic Wallenberg family, providing a lifeline to complete construction of Europe's first hydrogen-based steel factory.
The financing provides a reprieve for one of the few remaining large green steel projects in Europe, where high investment costs and the challenges of scaling green hydrogen have forced several planned projects to be curtailed.
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Stegra said in a statement on Tuesday that the financing had also received a 100% approval from the Stegra lender group.
($1 = 0.8798 euros)
(Reporting by Anna Ringstrom, editing by Louise Rasmussen)
Source: “AOL Money”
