The company H2 Green Steel has changed its name to Stegra. The new name reflects the company's mission to drive innovation and improve industry standards.
“The team continues to prove that it is possible to do more and change things quickly, even in an industry that has long been considered difficult to decarbonise. As we continue this journey, we are leaving our more descriptive project name behind and adopting the name Stegra, which reflects our long-term ambitions,“ explains CEO Henrik Henriksson.
Stegra is a Swedish word meaning ‘to increase’. It symbolises the team spirit of overcoming challenges and always moving forward.
International expansion with local commitment
Since its foundation in 2021, the company has come a big step closer to its ambitious goal of reducing emissions in the steel industry. Having secured EUR 6.5 billion in financing, Stegra is pressing ahead with its plans to open the world's first industrial-scale green steel plant. Production is scheduled to start in 2026.
Stegra's strategy is based on three core technologies: green hydrogen, green iron and green steel, all of which are integrated into the plant in Swedish soil. The plant plans to use one of the world's largest electrolysers to produce green hydrogen, which will replace coal and coke in iron production. This substitution is expected to significantly reduce carbon emissions as only water vapour will be emitted. The green steel is to be produced in a fully electrified large-scale production plant with almost zero emissions. This move comes at a time when the steel industry worldwide is under increasing pressure to reduce its environmental impact.
Stegra says it plans to expand its presence globally by utilising the expertise and experience developed at its flagship plant in Boden. The company is looking at projects in Portugal, Canada and Brazil, which offer ample access to renewable electricity and a good grid connection. The most advanced project is in Portugal. Stegra has selected a site near Sines and has already secured the necessary energy resources.
