H2 Green Steel has rebranded as Stegra to reflect its aim to decarbonise hard-to-abate industries via green hydrogen, such as iron and steel production.
Launched in 2021, Stegra previously secured €6.5bn to develop the “world’s first” large-scale green steel plant in Boden, Sweden, with the start of production expected for 2026.
Read more:H2 Green Steel signs €4.2bn debt financing agreements for Boden plant
According to the firm’s statement, Stegra represents three distinct platforms: Green hydrogen, with one of the world’s largest electrolysers; green iron, where the bulk of emissions are removed by replacing coal and coke with green hydrogen; and green steel – a “fully electrified large-scale production facility for near-zero emissions steel.”
Henrik Henriksson, CEO of Stegra, explained the company’s rebranding. “As we continue this journey, we leave our more descriptive project name behind, and take on the name Stegra, which reflects our long-term ambitions.”
The CEO added, “Stegra is a Swedish word which means ‘to elevate.’ It captures the team’s spirit to rise in the face of challenges and always continues to move onwards and upwards.
“It’s a constant reminder of the company’s purpose and honours our Swedish roots and where it all began in Boden.”
As part of the company’s longer-term outlook, they have established a funnel of potential projects outside of Sweden, located in Portugal, Canada and Brazil.
“Presently, a project in Portugal, where the site selection has been made and land reserved near Sines, is the most advanced,” Henriksson said.
“Notification on the substantial allocation of the power needed has been made to Stegra and our local value chain partnerships continue to evolve.”
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