Stegra Launches New Financing Round to Build First-Ever Large-Scale Green Steel Plant

Emanuela Hawker
October 13, 2025

Swedish green iron and steel maker Stegra has entered a new financing round to support the development of the world’s first large-scale green steel plant in Boden, Sweden, following strong initial backing from existing investors.

Founded in 2020, Stegra utilizes hydrogen produced using green power to remove the oxygen from iron oxide, avoiding most of the CO2 emissions normally produced, and uses electricity from 100% renewable sources for the energy requirements generated in the manufacturing process.

Construction of the plant first began in 2022 and it is expected to start operations in 2026, with a goal to annually produce five million tons of green steel by 2030.