“Through the certificates, Meta can reduce emissions in its own supply chain and at the same time drive the development of more climate-smart solutions across the steel sector,” writes Stegra, which was saved from financial collapse by the Wallenberg sphere earlier this year.
Google and Microsoft have also signed the same type of agreement with Stegra for environmental certificates.
Lack of capital
The certificates - which tech companies can use in their sustainability reports - are linked to Stegra’s steel sales to other customers and must be verified by an accredited external party. For Stegra, they mean future revenue and earlier cash flow from sales.
Stegra’s steelmaking process is based on hydrogen and renewable electricity. According to Stegra, this makes it possible to reduce carbon dioxide emissions by up to 95 percent compared with conventional blast furnace-based steelmaking.
In September, it was reported that Stegra lacked the capital needed to complete its steel factory in Boden.
“The dialogues are constructive”
According to Stegra communications manager Karin Hallstan, work is underway to secure financing together with owners, lenders and other stakeholders.
“The dialogues are constructive, and our major owners are showing great commitment and responsibility in the process. We do not comment on individual media reports, but hope to be able to come back with more information as soon as possible,” Hallstan writes in an email to TT.
She adds that the timeline for when the factory in Boden can start producing steel “is under review.”
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