Swedish green steelmaker Stegra has secured new financing to build the world’s first large-scale green steel plant in Boden, Sweden. Unlike traditional steelmaking that uses coal, Stegra uses hydrogen produced from renewable energy, which cuts almost all CO₂ emissions. The plant is already more than 60% complete and is expected to start operations in 2026. Stegra aims to produce up to five million tons of green steel per year by 2030. The latest funding round will cover around 15% of the total project cost and follows major partnerships, including Microsoft’s agreement to use Stegra’s low-emission steel in its data centers.
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