Sweden-based Stegra, formerly known as H2 Green Steel, has announced that the Swedish Energy Agency has granted about €100 million from the country’s Industrial Leap Fund for the company’s fully integrated green steel production plant in Boden.
The company stated that the state aid will not only help them to accelerate the transition to sustainable solutions until the EU’s Carbon Border Adjustment Mechanism and Emission Trading System is fully implemented, but will also create a level playing field between existing players and new green steel companies.
The company is currently constructing a large-scale green steel plant in Boden, which will consist of one electrolyzer with a capacity of 690 MW, a direct reduction plant, two electric arc furnaces, and cold rolling and finishing facilities. The new plant, with an annual green steel production capacity of 2.4 million mt, is expected to be commissioned in 2026.
