Stegra announced the closing of its €1.4 billion financing round. The round was led by a Wallenberg Investments consortium and received strong support from existing investors and Stegra’s original lender group. Stegra had announced in April 2026 that the financing round had been agreed in principle, subject to approvals including customary regulatory approvals. The round has now been completed.
The Wallenberg Investments-led consortium includes existing investors IMAS and Temasek, along with new investors Bolero and SEB-Stiftelsen. A large group of Stegra’s existing shareholders also continued to invest in the company, 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.
Altor will become Stegra’s second-largest shareholder following the financing round. In addition, a group of Stegra’s second lien lenders, led by AIP Management, decided to support the project as direct equity investors.
The financing also received 100% approval from Stegra’s lender group. All banks participating in Stegra’s financing package continue to support the project, and the company will have access to the undrawn debt facilities established as part of its 2024 financing.
Stegra said the financing gives the company a higher equity ratio and a stronger, more resilient financial position. The company also noted the increased Swedish ownership through the Wallenberg Investments-led consortium, along with continued support from the Swedish National Debt Office and SEK.
Stegra is developing near-zero-emissions steel and is working to complete and commission its plant in Boden, Sweden. The company said it is ramping up construction activities in Boden, while the project timeline is under review during this period.
The financing is intended to support Stegra’s continued development as it advances its large-scale green steel project. The company and its investors described the project as an important step for Sweden’s industrial competitiveness and the European Union’s security of supply.
KEY QUOTES:
“We are grateful for the support for the work we are doing in bringing near zero emissions steel to the market from both new and existing investors, as well as from lenders. It’s a strong sign of confidence in our business case and the project.”
“We close this financing round with a higher equity ratio and a stronger and more resilient financial position for the company. We welcome the increased Swedish ownership through the Wallenberg Investments-led consortium and the continued support from the Swedish National Debt Office and SEK which remain committed to previously agreed facilities and have worked constructively with different stakeholders during the funding process.”
Henrik Henriksson, CEO of Stegra
“We are pleased that this transaction is now closed. Together with Bolero, IMAS, SEB-Stiftelsen and Temasek, as well as Altor and other new and existing investors, we will now work closely with the Stegra team to complete and commission the plant in Boden. This large-scale green project represents an important step in Sweden’s competitiveness and the EU’s security of supply.”
Håkan Buskhe, Head of Special Investments at Wallenberg Investments and incoming board member of Stegra
