Stegra today announced the successful closing of its €1.4 billion financing round, strengthening the company’s financial position as it advances construction of its large-scale near-zero emissions steel facility in Boden, Sweden. The round is led by a consortium of Wallenberg Investments, alongside existing investors IMAS and Temasek, as well as new investors Bolero and SEB-Stiftelsen. A broad group of existing shareholders also continued their participation, including Altor, Hy24, Just Climate, AMF, AP2, Climate Infrastructure Fund, Kallskär, Kobe Steel, Lingotto Innovation, Scania, Schaeffler, Security Trading, Stena Metall Finans, and Swedbank Robur.
In addition, a group of second-lien lenders led by AIP Management has converted its support into direct equity participation, further reinforcing the capital base of the company. The financing structure has also received full approval from Stegra’s lending consortium, ensuring continued access to undrawn debt facilities established under the company’s 2024 financing package.
Stegra said the completion follows an agreement in principle announced in April 2026, subject to regulatory and customary approvals now fulfilled. The Wallenberg Investments-led consortium will work closely with Stegra as the company progresses toward completion and commissioning of its Boden facility, which is expected to play a key role in the transition toward low-emission steel production in Europe.
“We are grateful for the support for the work we are doing in bringing near-zero emissions steel to market from both new and existing investors, as well as from lenders,” said Henrik Henriksson, Chief Executive Officer of Stegra. “This is a strong sign of confidence in our business case and in the long-term value of the project.”
Håkan Buskhe, Head of Special Investments at Wallenberg Investments and incoming board member of Stegra, said the transaction reflects strong investor alignment behind the project’s strategic importance. “We are pleased that this transaction is now closed. Together with Bolero, IMAS, SEB-Stiftelsen and Temasek, as well as Altor and other investors, we will continue working closely with the Stegra team to complete and commission the plant in Boden,” Mr Buskhe said. “This large-scale green project represents an important step in Sweden’s competitiveness and in strengthening Europe’s security of supply.”
Stegra noted that the financing structure results in a higher equity ratio and a more resilient financial position. The company also highlighted increased Swedish ownership through the Wallenberg Investments-led consortium, along with continued support from the Swedish National Debt Office and Svensk Exportkredit (SEK), which remain committed to previously agreed funding facilities.
Construction activities at the Boden site are currently being ramped up, and the project timeline is under review as execution progresses. Stegra’s project is also supported by funding from the European Union Innovation Fund and the Swedish Energy Agency, reinforcing its role in Europe’s industrial decarbonization efforts.
