H2 Green Steel is changing its company name to Stegra

The industrial scale-up H2 Green Steel is changing its name to Stegra. The company’s purpose is to decarbonize hard to-abate industries. Stegra will do so by leveraging all three platforms it works with: green hydrogen, green iron and green steel.

H2 Green Steel was launched in 2021 to reduce emissions in the steel industry on a very ambitious timeline. By showing that it can be done, the company also aimed to inspire the incumbent steel industry to speed up the pace of change. Having secured funding of €6.5 billion and being well on its way to building the world’s first large-scale green steel plant – with start of production in 2026 – the company now starts a new chapter with a new name: Stegra, a Swedish word which means ‘to elevate’.
„Since its launch, the company's purpose has been reshaped to be the accelerator of decarbonization in hard-to-abate industries. Hard-to-abate industries rely heavily on fossil fuels, making emissions cuts more challenging. Those are the industries Stegra will tackle. And showing that it's possible in the steel industry, using renewable electricity, is the first step“, said Henrik Henriksson, CEO, Stegra.
According to the company, the name Stegra is future proof for the journey ahead, which is based on the three distinct platforms that are being built in Boden:
– Green hydrogen: one of the world’s largest electrolyzers
– Green iron: where the bulk of the emissions are reduced by replacing coal and coke in traditional steelmaking with green hydrogen – emitting water instead of carbon emissions
– Green steel: a fully electrified large-scale production facility for near-zero emissions steel

Over the long term, Stegra will explore the potential for growth, leveraging all three platforms and making use of the competence and experience being developed in the flagship plant in Boden, the company has stated.
According to the company, Stegra has a solid funnel of potential projects outside of Sweden that are being explored as part of a longer-term outlook. They are characterized by locations where the company’s customers need help with value-chain decarbonization and which offer abundant access to renewable electricity and strong grid connections. Locations under consideration include 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, the company has stated. Notification on substantial allocation of the power needed has been made to Stegra and our local value chain partnerships continue to evolve.
Source: Stegra