According to the financial publication Dagens Industri, Swedish green steel startup Stegra has issued a total of 850 million new shares to finance the construction of its plant.
This issue increased the total number of the company’s shares by 23%, and among the new shareholders is Koç Group, Turkey’s largest industrial conglomerate.
According to Stegra’s shareholder register, the Koç family and Koç Holding jointly subscribed for 2% of the newly issued shares.
As the publication notes, in November 2025, Stegra announced that an additional SEK 10 billion was needed to complete the construction of the steel plant in Boden. However, according to Dagens Industri sources, as a result of subsequent negotiations with financiers, the amount more than doubled.
As a reminder, in November last year, Stegra, which was seeking additional funding for its project, received a state grant from Sweden in the amount of SEK 390 million ($40.9 million, approximately €37 million). The support was provided on the condition that the company secure funds to complete the project by spring 2026.
Stegra is building a large-scale plant for the production of environmentally friendly steel in Boden. It will consist of an electrolyzer, a direct reduction plant, two electric arc furnaces, as well as cold rolling and finishing shops. Production is expected to start in the second half of 2026, with the plant reaching full capacity in 2028.
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