Series F · Climate Tech · Stockholm, Sweden · Founded 2020 · 500–1000 employees
Stegra (formerly H2 Green Steel, founded 2020) is building Europe's first large-scale green steel plant in Boden, northern Sweden, using green hydrogen and renewable electricity to cut CO₂ emissions by up to 95% versus conventional steelmaking. The company has secured a total of approximately €6.5 billion in prior funding, followed by a landmark €1.4 billion rescue round in April 2026 led by Wallenberg Investments alongside Temasek and IMAS. Key customers include Volvo Group, IKEA, Mercedes-Benz, Porsche, Scania, ZF Group, and thyssenkrupp Materials Services, underscoring strong commercial validation. With construction over 60% complete, Stegra represents one of the most ambitious industrial decarbonization projects in Europe, and the only new steel plant built on the continent in 50 years.