H2 Green Steel has rebranded to Stegra, with a focus on decarbonizing hard-to-abate industries by leveraging green hydrogen, green iron, and green steel. Originally launched in 2021 to reduce emissions in the steel industry, the company has secured EUR 6.5 bln (USD 7.16 bln) in funding and aims to begin production at the world’s first large-scale green steel plant by 2026.
Stegra’s CEO, Henrik Henriksson, explained that “Stegra”, a Swedish word meaning “to elevate”, reflects the company’s mission to tackle challenges and advance its goals. The name honors its Swedish origins in Boden, where the company is developing three platforms: green hydrogen, green iron (replacing coal and coke with hydrogen to cut emissions), and green steel production.
Stegra is also exploring international projects, with potential locations in Portugal, Canada, and Brazil. Its most advanced project is in Sines, Portugal, where land has been reserved and power allocations have been secured.
1 USD / 0.9 EUR
