€1.4 billion financing round. The round is led by a Wallenberg
Investments-consortium and has strong support from existing
investors as well as the original lender group.
In April, 2026 Stegra announced that the new financing round had been
agreed in principle, subject to certain approvals, including customary
regulatory approvals. The financing round is now completed.
The Wallenberg Investments-led consortium consists of existing investors
IMAS and Temasek as well as new investors Bolero and SEB-Stiftelsen. In
addition, a large group of Stegra’s existing shareholders continue to invest in
the company. These investors include Altor, that will become the second
largest shareholder, Hy24 and Just Climate, as well as AMF, AP2, Kallskär,
Lingotto Innovation, Scania, Schaeffler, Security Trading* Stena Metall Finans
and Swedbank Robur. In addition, Climate Infrastructure Fund** joins as a new
investor. Also, a group of Stegra’s second lien lenders, led by AIP
Management, have decided to support the project as direct equity investors.
“We are grateful for the support for the work we are doing in bringing near zero
emissions steel to the market from both new and existing investors, as well as
from lenders. It’s a strong sign of confidence in our business case and the
project,” says Henrik Henriksson, CEO Stegra.
The financing has also received 100% approval from the Stegra lender group.
All banks participating in Stegra’s financing package continue to support the
project and the company will have access to the undrawn debt facilities
established as part of the company’s 2024 financing.
“We are pleased that this transaction is now closed. Together with Bolero,
IMAS, SEB-Stiftelsen and Temasek, as well as Altor and other new and
existing investors, we will now work closely with the Stegra team to complete
and commission the plant in Boden. This large-scale green project represents
an important step in Sweden’s competitiveness and the EU’s security of
supply,” says Håkan Buskhe, Head of Special Investments at Wallenberg
Investments and incoming board member of Stegra.
“We close this financing round with a higher equity ratio and a stronger and
more resilient financial position for the company. We welcome the increased
Swedish ownership through the Wallenberg Investments-led consortium and
the continued support from the Swedish National Debt Office and SEK which
remain committed to previously agreed facilities and have worked constructively
Stegra is in the process of ramping up construction activities in Boden. During
this period, the project timeline is under review.
* the investment company of Antti Herlin’s family
** managed by Demea Sustainable Investment
For more information, contact: Karin Hallstan, Head of Communications,
Stegra at press@stegra.com or +46 76 842 81 04
Stegra is an industrial impact scale-up in the process of building its first plant
for large-scale production of green hydrogen, green iron and green steel. The
company was founded in 2020 as H2 Green Steel and changed name to
Stegra in 2024 to reflect its purpose to decarbonize hard-to-abate industry,
starting with steel. Stegra’s flagship plant is being built in Boden, northern
Sweden, and its headquarters are in Stockholm. www.stegra.com
For further information, please contact:
Jack Sheppard, Brackendale Consulting
+44 7517 778219
jack@brackendaleconsulting.com
Cerys Davey, Brackendale Consulting
+44 7826 421495
cerys@brackendaleconsulting.com