Published by Global Banking and Finance Review
Posted on September 4, 2025
1 min readLast updated: January 22, 2026
Stegra is seeking additional funding for its green steel project in Sweden, considering public, equity, and debt options to complete its investment.
COPENHAGEN (Reuters) -Swedish green steel company Stegra is seeking to raise additional cash to complete its flagship investment in northern Sweden, business daily Dagens Industri reported on Thursday.
A company spokesperson told Reuters Stegra was considering options including public funding, equity and debt.
Stegra, formerly H2 Green Steel, secured 6.5 billion euros ($7.61 billion) in funding in January 2024 for its flagship green steel plant in Boden, northern Sweden, which uses hydrogen produced from renewable electricity.
Sweden has led Europe's efforts to shift from fossil-fuel based industries to non-polluting energy, driven by cheap, carbon-free electricity, but its green transition also faces headwinds, such as the bankruptcy of battery maker Northvolt.
Green hydrogen developers are cancelling projects and trimming investments around the world, raising the prospect of longer than targeted reliance on fossil fuels.
Hard-to-electrify industries that were seen as ideal candidates for green hydrogen, such as steelmaking and long-distance transportation, have found that transition to the low-carbon fuel looks prohibitively expensive.
($1 = 0.8542 euros)
(Reporting by Stine Jacobsen, editing by Terje Solsvik)
Stegra is seeking additional funding to complete its flagship investment in a green steel plant located in Boden, northern Sweden.
In January 2024, Stegra secured 6.5 billion euros (approximately $7.61 billion) for its green steel plant.
Sweden's green transition faces challenges such as rising costs and the cancellation of green hydrogen projects, which may lead to a longer reliance on fossil fuels.
Stegra is considering various options for additional funding, including public funding, equity, and debt.
Hard-to-electrify industries, such as steelmaking and long-distance transportation, are finding the transition to green hydrogen more challenging than anticipated.
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