Swedish Lawmaker Downplays Stegra Aid as Funding Needs Jump

Sweden is unlikely to offer financial support for Stegra AB even as the startup races to secure funding for its first factory by the end of this month, according to a senior lawmaker whose party underpins the ruling coalition.

Injecting public money into the company, which reportedly needs as much as 20 billion kronor ($2.2 billion) to complete its green steel plant, would be a step too far for Tobias Andersson of the Sweden Democrats, who also chairs the parliamentary committee on industry and trade.