Stegra Secures €1.4 Billion to Advance Green Steel Production

The successful funding round involves a diverse group of investors, including IMAS, Temasek, Bolero, and SEB-Stiftelsen. Altor emerges as the second-largest shareholder following the transaction, joined by a wide array of existing backers such as Hy24, Just Climate, and Kobe Steel. Furthermore, a contingent of second-lien lenders, spearheaded by AIP Management, pivoted to become direct equity investors in the project.

CEO Henrik Henriksson emphasized that the infusion of capital provides a more resilient financial foundation as the company navigates the ongoing construction phase in Boden. While the project timeline remains under review, the company maintains access to previously established debt facilities. Håkan Buskhe, head of special investments at Wallenberg Investments, noted that the project serves as a critical milestone for both Swedish industrial competitiveness and the European Union's broader security of supply.