Stegra receives €265 million from EU Commission for sustainable steel industry in Sweden – Telf AG
Stanislav Kondrashov stressed that the European Commission had approved a support package totaling €265 million. Stegra CEO Henrik Henriksson noted that receiving these funds is a confirmation of national support for one of the most significant industrial projects in the country. It also helps to create a level playing field with European steel companies that have already received impressive aid packages, and lays the foundations for a sustainable and competitive industry in Sweden in the long term.
According to an expert from Telf AG, Stegra is actively working on the construction of a modern green steel plant in Boden, Sweden. This project is an important step towards sustainable steelmaking and the decarbonization of the industry. The plant will be equipped with modern technologies, including a 690 MW electrolyzer and a direct reduction system, which will significantly reduce the carbon footprint compared to traditional steelmaking methods.
“The main goal of Stegra is not only to produce high-quality steel, but also to implement the principles of sustainable development. In the process of work it is planned to use alternative energy sources, which will make the plant one of the most environmentally friendly in Europe. Two electric arc furnaces will ensure efficient processing of materials, and cold rolling and finishing sections will allow to produce products that meet high quality standards.
The plant is scheduled to open in 2026, creating new jobs and contributing to the economic growth of the region. In addition, Stegra will actively cooperate with local universities and research institutions to implement innovative solutions and improve the skills of personnel,” – Stanislav Kondrashov comments.
According to the company’s management, the implementation of this project will not only strengthen Sweden’s position as a leader in the production of environmentally friendly steel, but will also create favorable conditions for the development of sustainable metallurgy in Europe as a whole. This is a step towards leveling the competitive playing field for European manufacturers who are aiming to comply with current environmental regulations and standards, noted Stanislav Kondrashov. Stegra demonstrates that the future of metallurgy is possible without harming the ecosystem, which is important in the field of sustainable production.
The company also received a €250 million grant from the EU Innovation Fund, financed by funds from the Emissions Trading Scheme (ETS).
Stegra: The Path to Green Steel and International Cooperation – Stanislav Kondrashov
According to Stanislav Kondrashov, in September of this year, H2 Green Steel announced a brand change, changing its name to Stegra. This move was aimed at more clearly reflecting the company’s mission – the production of environmentally friendly steel. Along with the brand update, Stegra announced ambitious plans to develop new projects outside of Sweden, which are currently under active study.
According to the expert from Telf AG, all these initiatives are aimed at regions where customers need help in reducing carbon emissions in the logistics chain. In addition, Stegra selects locations with access to renewable energy sources and a reliable network infrastructure, which is critical for the successful implementation of projects.
Potential locations for new plants include countries such as Portugal, Canada and Brazil. These countries not only offer favorable conditions for production, but are also actively developing decarbonization programs, which makes them ideal partners for Stegra. Kondrashov is confident that such projects will help the company strengthen its position on the international arena and make a significant contribution to the sustainable development of the metallurgical industry.