(SeaPRwire) –   STOCKHOLM, April 14, 2026 — Stegra has reached a preliminary in-principle agreement for €1.4 billion in fresh financing from a mix of new and existing investors, to finish building its large-scale green steel facility in Boden, Sweden.

This financing round is led by Wallenberg Investments, which has assembled an investor consortium that will take a leading ownership stake in Stegra through this transaction. Joining Wallenberg Investments in the consortium are Temasek and IMAS. The funding also receives strong backing from Stegra’s current shareholders, including Altor — which will become the company’s second-largest owner after the transaction closes — as well as Hy24 and Just Climate. It also has support, pending credit approval, from Stegra’s senior and junior lenders. This gives Stegra a fully funded pathway to complete the construction and commissioning of its green steel plant. 

“This financing reflects the strong confidence in Stegra’s business model among both new and existing investors, as well as our lending partners. It was secured in an extremely challenging macroeconomic environment, and it is the result of significant work from every stakeholder involved — including, of course, investors and banks, but also Stegra’s internal team and our extended network of suppliers, customers and other close partners based in Boden,” says Henrik Henriksson, Stegra’s CEO.  

“In addition to the clear climate benefits, we are convinced of Stegra’s competitiveness and the strong commercial appeal of green steel, while we remain fully realistic about the challenges that lie ahead. We also see this project as hugely important to Sweden’s standing as an industrial nation,” says Leif Johansson, adviser to the Wallenberg Investments-led consortium.

“The new investors will bring substantial additional industrial expertise to the table, and their investment strengthens Stegra’s position as well as the project’s rooted connection to Sweden. Their values align perfectly with both Stegra’s mission and our team,” says Henriksson.

The additional €1.4 billion in financing will be used to complete construction of the plant in Boden. This covers previously announced project scope expansions, such as bringing selected infrastructure components in-house, covering increased project costs, and building a prudent financial buffer. Once the financing round closes, a higher equity ratio will leave Stegra with a stronger, more resilient financial foundation.

After several months of slower progress while the company secured funding, Stegra will now ramp up construction activity. The official project timeline is currently under review.

The financing has been agreed in principle, and is conditional on credit approval from lenders and finalization of legal documentation. Standard closing conditions precedent, including regulatory approval, are also required. Signing of the core agreements is expected to take place at the end of April, and the financing round is set to close in June 2026.

Once the financing round is completed, investors have confirmed their intention to nominate Leif Johansson as the new Chair of the Board, succeeding Shaun Kingsbury, who led the board while the company completed this financing round. Kingsbury will be proposed to continue serving as a board member. Investors also intend to nominate Håkan Buskhe, senior industrialist at Wallenberg Investments, and Paal Weberg, Managing Partner at Altor, to join the board. Any further potential changes to the board will be shared in the notice for the extraordinary general meeting. Effective today, Leif Johansson and Håkan Buskhe will join the current board as observers.

An invitation to today’s press meeting, held at 11:00 am CET at Stegra’s office at Norra Stationsgatan 93A, Stockholm, is attached to this release. Only pre-registered media with valid press credentials will be granted entry. 

For more information, contact: Karin Hallstan, Head of Communications, Stegra at press@stegra.com or +46 76 842 81 04

This information was distributed to you by Cision http://news.cision.com

https://news.cision.com/stegra/r/stegra-has-agreed-in-principle-on-a–1-4-billion-financing-round-led-by-a-wallenberg-investments-con,c4334366

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