Stegra (formerly H2 Green Steel) has secured €1.4 billion in new financing led by a Wallenberg Investments consortium including Temasek and IMAS Foundation, rescuing its Boden green steel plant in northern Sweden. The Wallenberg family will contribute €250 million and become the company's largest shareholder. Construction had slowed during months of fundraising uncertainty. The plant, which uses green hydrogen to replace coking coal and cuts CO₂ emissions by up to 95%, was originally targeted for operations by end of 2025 — a deadline already missed. Signing of principal agreements is expected by end of April, with financing closing targeted for June 2026. The project has now raised over €2.1 billion in equity since 2021 and carries strategic importance for Sweden's industrial identity.
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