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Stegra Receives €1.4 Billion in New Financing Round for Green Steel Plant
04/14/2026 - Stegra announced it has agreed in principle on a €1.4 billion new financing round led by a Wallenberg Investments-led consortium for the company’s green steel plant in Boden, Sweden.
The company said it now has a fully funded path to completing the construction and commissioning of its new green steel plant. The added financing will be used for scope expansions including insourcing infrastructure components, increased project costs and establishing a financial buffer.
“The investors will bring additional significant industrial expertise, and their investment reinforces Stegra’s position and the project’s Swedish anchoring. They represent values aligned with both Stegra’s purpose and team,” said Henrik Henriksson, chief executive officer of Stegra.
Along with Wallenberg Investments, others in the consortium include Tamasek and IMAS. Others providing funding include Stegra’s shareholders such as Altor, as well as Hy24 and Just Climate.
The financing is subject to credit approvals from the lenders and finalizing documentation. Signing of the agreements is expected for the end of April while closing of the financing round will occur in June 2026, the company said.
Investors intend to nominate Leif Johansson as new chair of the board, succeeding Shaun Kingsburg who will continue to serve on the board. They also intend to nominate Wallenberg Investment’s senior industrialist Håkan Buskhe and Altor’s managing partner, Paal Weberg, to the board. They will join the board as observers until then, the company said.
“The investors will bring additional significant industrial expertise, and their investment reinforces Stegra’s position and the project’s Swedish anchoring. They represent values aligned with both Stegra’s purpose and team,” said Henrik Henriksson, chief executive officer of Stegra.
Along with Wallenberg Investments, others in the consortium include Tamasek and IMAS. Others providing funding include Stegra’s shareholders such as Altor, as well as Hy24 and Just Climate.
The financing is subject to credit approvals from the lenders and finalizing documentation. Signing of the agreements is expected for the end of April while closing of the financing round will occur in June 2026, the company said.
Investors intend to nominate Leif Johansson as new chair of the board, succeeding Shaun Kingsburg who will continue to serve on the board. They also intend to nominate Wallenberg Investment’s senior industrialist Håkan Buskhe and Altor’s managing partner, Paal Weberg, to the board. They will join the board as observers until then, the company said.
