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Support provided on condition that the company secures funding to complete the project by spring

The consultations will, in particular, concern the unblocking of certain credit lines

The company also participated in the previous financing round in September 2023

In the third quarter, the company increased its revenue by 41% y/y, despite a loss of 2.4 billion kronor

The reason for the delay was the delay in connecting the power grid being built by Vattenfall

The startup is already drawing analogies to the bankrupt Northvolt

The funds will be used for infrastructure, rising costs, and creating a financial buffer for the project in Boden

Last year, this figure amounted to more than SEK 2 billion

Delivery will be made at the end of 2026

Shipments of products increased by 5.9% y/y and steel production – by 0.3% y/y.

Production of iron ore products decreased by 1.5% y/iy over the period

This will contribute to a significant increase in the production of high-quality steel, in particular for the automotive industry