Stegra Shareholder Hitachi Energy Rules Out New Cash for Startup

Electrical equipment supplier Hitachi Energy Ltd. won’t put more money into Swedish startup Stegra AB, having originally bought into the green steel project in 2022.

“We of course had the question on our table, but decided not to go in with further financing,” Tobias Hansson, head of Hitachi Energy’s Swedish unit, said in an interview. He added the original investment was never about returns but more of “a strategic partnership.”