Stegra Gets €1.4 Billion Rescue from Wallenberg-Led Group

The Stegra AB green steel plant construction site in Boden, Sweden, in 2025.Photographer: Jonathan Nackstrand/AFP/Getty Images

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By Lars Paulsson and Rafaela Lindeberg

April 14, 2026 at 6:16 AM UTC

Updated on

April 14, 2026 at 11:09 AM UTC

Ailing startup Stegra AB has secured funding from investors, including Sweden’s influential Wallenberg family, to help the company complete what will be the world’s biggest green-steel plant.

The financing round is led by Wallenberg Investments AB, which formed a consortium that will provide an additional €1.4 billion ($1.65 billion) of capital, according to a statement on Tuesday. The Wallenbergs will contribute €250 million.