Stegra

Stegra is a Swedish green-steel startup building a hydrogen-direct-reduced-iron plant in Boden, northern Sweden, using renewable electricity to make green hydrogen that replaces coal in reducing iron ore. In June 2026 it closed a €1.4 billion financing round led by a Wallenberg Investments consortium. Iron and steel account for roughly 7–8% of global CO₂ emissions; Stegra's raise contrasts with Germany's Salzgitter, which paused its own green-steel project for three years citing weak markets.

In September 2026 Google agreed to buy environmental attribute certificates covering up to 91,000 tonnes of steel from the plant's first year of production, sold separately from the physical metal.

At the end of September 2026 Stegra said finishing the plant will cost significantly more than assumed in June, with Affärsvärlden putting the gap at SEK 10 billion or more; its largest shareholders said they would help raise it, Kinnevik said it would not, and former Saab CEO Håkan Buskhe takes over as CEO on 1 November.