The Swedish Energy Agency has announced that domestic steelmaker Stegra will receive approximately €37 million from the country’s Industrial Leap program to support the establishment of the company’s fully integrated near zero emission steel production plant in Boden.
This latest funding follows a significant financial commitment in September 2024, when Stegra was awarded €100 million under the Industrial Leap program. Today’s announcement of an additional €37 million further expands the financial framework available to Stegra as it advances its project.
Despite the new grant, Stegra’s CEO Henrik Henriksson emphasized that more funding will still be required and that, even though the new allocation strengthens both Swedish and European competitiveness, “There is still a gap to what the EU has approved”, compared to other projects.
Stegra started a new financing round to support the construction of the Boden plant in October this year, as previously reported by SteelOrbis.