About H2 Green Steel
Company Overview
Stegra (formerly H2 Green Steel), a privately held Swedish industrial startup
HeadquartersStockholm, Sweden
Founded2020
SizeApproximately 500 employees globally (source: linkedin.com). The company secured multiple financing rounds totaling over 9.3 billion, including two 1.4 billion euro rounds in 2026 led by Wallenberg Investments (sources: reuters.com, reuters.com).
What They Do
Stegra specializes in industrial decarbonization with a primary focus on revolutionizing steel production by replacing traditional coal-based methods with green hydrogen and green iron technologies. Their integrated process aims to reduce steelmaking emissions by up to 95%, positioning them at the forefront of sustainable steel manufacturing (sources: stegra.com, vargasholding.com). The company is constructing a fully integrated, digitalized, and circular plant in Boden, northern Sweden, which is set to become Europes first hydrogen-based steel facility (source: reuters.com). Stegra produces green steel, green iron, and green hydrogen on-site, targeting industrial buyers such as Microsoft and Mercedes-Benz, with Thyssenkrupp Materials Processing as its inaugural client for non-prime steel (source: reuters.com). Their approach combines scale, innovative hydrogen-based technology, and a greenfield European steel mill to disrupt the traditional steel industry (sources: reuters.com, stegra.com).
Projects & Track Record
Stegras flagship project is the Boden plant in northern Sweden, currently under construction and targeted to begin production by 2026-2027 (sources: stegra.com, reuters.com). This facility is expected to produce up to 5 million tonnes of green steel annually by 2030, marking it as Europes first greenfield steel mill in 50 years (sources: vargasholding.com, reuters.com). The company has established strategic partnerships with industrial clients such as Thyssenkrupp Materials Processing, which will receive non-prime steel starting in 2027, as well as investor-customers like Microsoft and Mercedes-Benz, reflecting a strong ecosystem around its green steel ambitions (source: reuters.com). Stegras operations remain focused in Sweden, with Stockholm as headquarters and Boden as the main industrial site (sources: linkedin.com, stegra.com).
Recent Developments
In 2025 and 2026, Stegra actively secured substantial funding to advance its Boden plant construction, including a 1.4 billion euro financing round led by Wallenberg Investments in April 2026 and a subsequent 1.4 billion euro round closed in June 2026, providing a financial buffer to complete the project (sources: reuters.com, reuters.com). The company also appointed Markus Holm as CFO in early 2026 to support its fundraising efforts (source: reuters.com). Additionally, Stegra signed a supply agreement with Thyssenkrupp Materials Processing in January 2026 for non-prime steel deliveries starting in 2027, marking a key commercial milestone (source: reuters.com). Earlier, in September 2025, the company was reported to be exploring various financing options including public funding, equity, and debt to finalize its northern Sweden investment (source: reuters.com).
Working There
Stegra offers a variety of roles spanning industrial operations, plant construction, engineering, finance, and corporate functions, with positions based primarily in Stockholm and Boden to support the flagship plant and other initiatives (sources: stegra.com, linkedin.com). Job listings include electrician, financial controller, network engineer, electrical operations manager, treasury controller, and head of quality and metallurgy, reflecting the companys diverse talent needs during its buildout and scale-up phase (source: linkedin.com). The company emphasizes a culture connected to its mission of decarbonizing industry through innovative technology, with a strong focus on the Boden plant and expansion projects in Sweden and abroad (source: stegra.com). Stegras significant LinkedIn following of over 106,000 indicates high visibility and interest in its pioneering green steel efforts (source: linkedin.com).
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