Stegra Secures Crucial Funding as Wallenbergs Step Up, DI Says

Ailing Swedish startup Stegra AB has secured funding commitments from the influential Wallenberg family in a rescue package that will help the company complete the world’s biggest green-steel plant and ensure it stays in business, Dagens Industri reported.

A group of investors led by the Wallenbergs are committing 7 billion Swedish kronor ($755 million) to 8 billion kronor of a total 15 billion kronor in fresh funding, making the family the company’s biggest shareholder, DI said on Sunday, citing sources it didn’t identify.