"The financing needs are greater than we had hoped, but we have a robust plan to complete the project and have identified greater opportunities for outsourcing and collaboration partners than we previously thought," says Stegra Chairman Leif Johansson in a comment.
According to sources cited by the newspaper Affärsvärlden, at least 10 billion kronor is needed to complete the investment in the factory in Boden. Stegra has not commented on how much money is involved.
Dialogue with owners
"Stegra has initiated a dialogue with Stegra's largest owner. They have agreed to participate in the work of securing the capital required for the completion of the project," the company writes in the press release.
On April 14, Stegra announced that it had raised 1.4 billion euros in a financing round. Wallenberg Investments accounted for 250 million euros and said it would take a "leading position" in Stegra going forward.
The financing was completed in June and the company is now owned by Stegra Holding, which holds 90 percent of the shares and votes in Stegra, and Green Nexus Investment Holding, which holds the remaining shares and votes.
Becomes an advisor
Stegra's current CEO, Henrik Henriksson, will continue as an advisor.
"Henrik Henriksson continues as an advisor to the company, where his knowledge and experience from the project are necessary to ensure the implementation of the project," writes Stegra.
Håkan Buskhe will take office as the new CEO on November 1, 2026.
Stegra, formerly known as H2 Green Steel, was founded in 2020 with the goal of producing so-called green steel, that is, steel based on fossil-free production methods.
